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The Non-Performing Loans Directive: A Commentary

New Arrival The Non-Performing Loans Directive: A Commentary

The Non-Performing Loans Directive: A Commentary

Author: Andrea Miglionico
Publisher: Edward Elgar Publishing
ISBN: 9781035323395
Published In: February 2026
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

Details

This authoritative Commentary analyses the Non-Performing Loans Directive, also known as the Credit Servicers Directive, which represents a notable step forward in achieving a level playing field in the debt recovery framework. It provides a critical examination of this necessary legislative reform that serves to expedite the development of secondary markets for non-performing loans.

Key Features:

Addresses the potential impact of the Directive across EU Member States
Explores credit servicing activities for consumers in relation to licensing and authorising requirements
Examines the function and operation of service providers and credit servicers with respect to consumer credit agreements
Evaluates the Directive’s supervisory framework and asset classification, with particular attention to the role of the European Securities and Markets Authority and its convergence with national legislation

This Commentary is an essential point of reference for practitioners and legal professionals in law firms with a banking and financial services regulation practice, as well as asset management companies, commercial and investment banks and international financial institutions. It is also a valuable resource for scholars and students of banking law, specifically the regulatory treatment of credit servicers and credit service providers.

Table of cases xxiii

Table of legislation xxiv

Introduction xv

TITLE I SUBJECT MATTER, SCOPE AND DEFINITIONS

Article 1 Subject matter 2

Andrea Miglionico

Article 2 Scope 8

Andrea Miglionico

Article 3 Definitions 16

Andrea Miglionico

TITLE II CREDIT SERVICERS

Authorisation of Credit Servicers

Article 4 General requirements 25

Andrea Miglionico

Article 5 Requirements for granting an authorisation 29

Andrea Miglionico

Article 6 Ability to hold funds 35

Andrea Miglionico

Article 7 Procedure for authorisation of credit servicers 40

Andrea Miglionico

Article 8 Withdrawal of authorisation 46

Georgios Psaroudakis

Article 9 List or register of authorised credit servicers 54

Georgios Psaroudakis

Article 10 Relationship with the borrower, communication of the transfer and subsequent

communications 57

Georgios Psaroudakis

Article 11 Contractual relationship between a credit servicer and a credit purchaser 63

Georgios Psaroudakis

Article 12 Outsourcing by a credit servicer 68

Georgios Psaroudakis

Cross-border Credit Servicing Activities

Article 13 Freedom to provide credit servicing activities in a host Member State 76

Andrea Miglionico

Article 14 Supervision of credit servicers that provide cross-border services 82

Andrea Miglionico

TITLE III CREDIT PURCHASERS

Article 15 Right to information regarding a creditor’s rights under a non-performing credit

agreement or the non-performing credit agreement itself 92

Kyriaki Vasileiou

Article 16 Implementing technical standards for data templates 98

Kyriaki Vasileiou

Article 17 Obligations of credit purchasers 104

Kyriaki Vasileiou

Article 18 Use of credit servicers or other entities 110

Kyriaki Vasileiou

Article 19 Representative of a third-country credit purchaser 113

Kyriaki Vasileiou

Article 20 Transfer of a creditor’s rights under a non-performing credit agreement, or of the

non-performing credit agreement itself, by a credit purchaser and communication to the

competent authorities 116

Kyriaki Vasileiou

TITLE IV SUPERVISION

Article 21 Supervision by competent authorities 120