Berlin, 10 June 2021
As the European Parliament has announced, a provisional political agreement has been reached on the Directive on Credit Servicers and Credit Purchasers in the last Trilogue meeting between Parliament, Commission and Council.
Commenting on today’s announcement, Claus Spedtsberg, President of FENCA said:
“FENCA welcomes the fact that over three years after the publication of the Commission proposal an agreement on this very important piece of legislation has finally been reached. As Europe’s voice for credit servicers and credit purchasers we have always emphasised the need to help enliven the secondary market for NPLs across the EU by providing a regulatory level playing field, while at the same time increasing safeguards for consumers. Specialised credit servicers and purchasers form a key part of the solution, particularly given the expected rise in numbers of NPLs in the wake of the COVID-19 pandemic. With purchasers taking non-performing exposures out of the balance sheets of credit institutions to free up their capacities for further lending, credit servicers will continue to find individually tailored solutions for distressed borrowers, taking into account their financial situation, to help them getting out of debt. We look forward to seeing how the key political points of the agreement will be implemented at technical level.”
FENCA's Press Release is available here.