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NPLs: EU reaches provisional agreement on directive harmonising rules for credit servicers and purchasers

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Published on: 29 June 2021

Published by LNB News

LNB News 29/06/2021

Document Information

Issue Date: 29 June 2021

Published Date: 29 June 2021

Jurisdiction(s): United Kingdom

Article summary

The Council of the EU has announced that EU ambassadors have confirmed a provisional agreement reached between the Council presidency and the European Parliament on a new directive harmonising rules for credit servicers and credit purchasers of non-performing loans (NPLs) issued by credit institutions. The aim of the new rules is to support the development of the secondary market for NPLs in the EU in order to allow banks to clean their balance sheets of ‘bad loans’, while ensuring that the sale does not affect the rights of borrowers.

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