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Non-Performing Loans Directive: A Commentary [Kõva köide]

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Non-Performing Loans Directive: A CommentarySuurem pilt
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Püsilink: https://www.kriso.ee/db/9781035323395.html
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.



This authoritative Commentary analyses the EU credit servicers directive, which represents a notable step towards legislative reform in the debt recovery framework. It provides an in-depth examination of the necessary legislative reform which serves to expedite the development of secondary markets for Non-Performing Loans.

Arvustused

This Commentary on the EUs Non-Performing Loans Directive is both impressive and reliable. Its clarity and structure are particularly valuable, promoting a better understanding of this complex, important, yet often overlooked instrument for practitioners, regulators, and scholars alike. It turns the Directive into a practical and accessible resource, one that anyone engaging with EU financial regulation and credit markets will benefit from keeping close at hand. -- Catalin-Gabriel Stanescu, University of Southern Denmark This Commentary provides a detailed and thoughtful study of the EU's Non Performing Loans Directive, which is an important part of bank regulation and policy. The Articles are explained and critically considered, providing an essential guide to statutory interpretation of this piece of EU legislation. Another indispensable commentary in Elgar's excellent library. -- From the Series Editor, Iris H-Y Chiu, University College London, UK

CONTENTS
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
1 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
2 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 creditors 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 creditors 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
Andreas Kokkinis and Shunqi Yang
Article 22 Supervisory role and powers of competent authorities 127
Andreas Kokkinis and Shunqi Yang
Article 23 Administrative penalties and remedial measures 134
Andreas Kokkinisand Shunqi Yang
TITLE V SAFEGUARDS AND DUTY TO COOPERATE
Article 24 Complaints 142
Andreas Kokkinis and Shunqi Yang
Article 25 Personal data protection 147
Andreas Kokkinis and Shunqi Yang
Article 26 Cooperation between competent authorities 150
Andreas Kokkinis and Shunqi Yang
TITLE VI AMENDMENTS
Article 27 Amendments to Directive 2008/48/EC 156
Andrea Miglionico
Article 28 Amendments to Directive 2014/17/EU 162
Andrea Miglionico
TITLE VII FINAL PROVISIONS
Article 29 Committee 169
Andrea Miglionico
Article 30 Evaluation 174
Andrea Miglionico
Article 31 Review clause 178
Andrea Miglionico
Article 32 Transposition 183
Andrea Miglionico
Article 33 Entry into force 188
Andrea Miglionico
Article 34 Addressees 192
Andrea Miglionico
Edited by Andrea Miglionico, Associate Professor, School of Law, University of Reading, UK