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 (Kreditzweitmarktgesetz).
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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