1. As part of the establishment of the comprehensive strategy to address the issue of non-performing loans (NPLs) within the European Union, Directive (EU) 2021/2167 enables credit institutions to better deal with loans that become non-performing by improving conditions for the sale of credit to third parties. When credit institutions face a large build-up of NPLs and lack the staff or expertise to properly service them, they should be able either to outsource the servicing of those loans to a specialised credit servicer or to sell the credit to a credit purchaser.
2. Directive (EU) 2021/2167 lays down a common framework and requirements for credit servicers of a creditor’s right under a non-performing credit agreement, or of the non-performing credit agreement itself, issued by a credit institution established in the Union, and includes requirements for the qualification of the management or administrative organ as a whole.
3. Directive (EU) 2021/2167 and these Guidelines do not app
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