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The approach to individual and collective enforcement of bank loans in the Member States shows significant variation. This is reflected by the differing averages of the Member States’ answers to “Yes”/“No” questions. As seen above, the average of all Member States’ answers is 0.64. The highest individual averages are 0.87, 0.85, 0.84, 0.77 and 0.76. The lowest averages are 0.40, 0.41 and 0.46. All other Member States achieve averages above 0.5 and are in a group with averages oscillating between 0.52 and 0.69. Hence, the support banks find in the Member States’ legal frameworks for the enforcement of loans differs significantly across the EU. The following Chart 3 shows the variation between Member States.

Chart 3: Average value of “Yes”/“No” answers by Member State in ascending order:

Those Member States with lower averages offer generally less support for banks in the enforcement of loans resulting in lower recovery rates or longer time periods to recovery. As explained, banks can be expected to react to less attractive legal frameworks by increasing the cost of debt finance for traders and consumers. This raises three concerns for the relevant Member States. First, such Member States tend to see lower levels of investment and consumer spending as traders and consumers can only borrow at higher costs. Second, bank stability may be negatively affected as banks encounter higher hurdles in dealing with non-performing loans. Third, Member States with less attractive enforcement frameworks risk that their traders and consumers will look to other, more attractive jurisdictions in search of finance.