Non-performing Loans Directive

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Chapter 14 in EU Banking and Financial Regulation, 2024, pp 159-164 from Edward Elgar Publishing

Abstract: Directive (EU) 2021/2167 (the NPLD) seeks to enhance the development of secondary markets for non-performing loans (NPLs) while ensuring further strengthened protection of borrowers. Since the performance of the secondary market for NPL depends to a large extent on the good reputation of the entities involved, NPL servicers, which manage and enforce the rights of creditors under NPL, should be authorised and supervised by the competent authority of their Member State. They may do business and operate EU-wide (‘passporting’), thereby making it easier for banks to sell NPLs and easier for investors to buy NPLs. In addition to the authorisation and supervision requirement, the NPLD lays down a common framework and requirements applying to NPL servicers and NPL purchasers while carrying out their activities.

Keywords: Law - Academic; Law - Professional (search for similar items in EconPapers)
Date: 2024
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