Implementation Of NPL Directive In Romania Slowly Advancing

Romania is currently taking steps to transpose Directive EU 2021/2167 on credit servicers and credit purchasers (the "NPL Directive") into national law. Credit institutions, non-banking financial institutions ("NBFIs") and debt recovery entities performing credit servicing activities are keeping a keen eye on two draft bills meant to implement the NPL Directive. Up for public debate in late 2023 and early 2024, these two normative acts shed light on some new obligations, while raising several practical questions.

NPL Directive transposition draft bills

The National Authority for Consumer Protection ("ANPC") and the National Bank of Romania ("NBR") are envisaged to share responsibilities regarding the application and supervision of Romanian legislation transposing the NPL Directive. Under the pressure of an already elapsed implementation deadline, since the end of 2023 two draft bills have been released for public consultation: