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July 10, 2017

EC launched a public consultation on the development of secondary market for non-performing loans (NPLs) and distressed assets and protection of secured creditors from borrowers’ default. The consultation aims to gather targeted input from stakeholders on ways to improve the functioning of the secondary market and more specifically on loan servicing activities by third parties and the transfer of loans away from the originating bank. Comments are due by October 20, 2017.

Moreover, EC is seeking feedback on a possible legislative initiative to strengthen the ability of creditors to recover value from secured loans to corporates and entrepreneurs. The consultation also offers interested parties the opportunity to give feedback on a possible new instrument, labeled “accelerated loan security.” This is aimed at increasing the protection of secured creditors from default by business borrowers, to improve the functioning of the small and medium enterprise credit market. As part of the efforts to tackle the issue of NPLs in the EU, this consultation was launched with a view to exploring possible initiatives to facilitate the development of secondary markets for NPLs.

 

Related Link: EC Consultation on NPLs   

Comment Due Date: October 20, 2017

Keywords: Europe, EC, Banking, Securities, NPL, Secondary Market

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