Regulatory Alerts2023-01-13
Added · Updated
Circular on Draft Implementing Technical Standards on Information Requirements on Sales and Transfers of Non-Performing Loans
The European Banking Authority published draft Implementing Technical Standards specifying information requirements and templates that credit institutions must provide to prospective buyers when selling or transferring non-performing loans. These standards cover loan counterparties, contractual characteristics, collateral, and guarantees, while introducing proportionality arrangements based on the nature of borrowers and loans. Credit institutions are recommended to note these obligations, which are expected to be adopted by the European Commission in due course.
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