New NPL Law In Germany – Financial Services

09 January 2024

Mayer Brown

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New NPL Law in Germany: German Secondary Credit Market
Act– Revitalization of the Non-Performing Loans Market and
Creating New Market Opportunities?

On 30 December 2023 the German Secondary Credit Market Promotion
Act (Kreditzweitmarktförderungsgesetz) entered into force,
which simplifies dealing in non-performing loans (“NPLs”)
by introducing a new law, the German Secondary Credit Market Act

The Secondary Credit
Market Act transposes EU Directive 2021/2167 on credit servicers
and credit acquirers of 24 November 2021 (“Credit Servicer
Directive”) into German law.

This new law could significantly change the market for NPLs.

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FinReg Monitoring – November 2023

Liedekerke Wolters Waelbroeck Kirkpatrick

Please find attached the monitoring report for the period 1 November to 30 November 2023.