Portugal
Decree-Law 103/2025, which transposes Directive (EU) 2021/2167 on credit servicers and credit purchasers, has been published
KEY ASPECTS
- The RCGCB applies to the assignment of credits and contractual positions in credit agreements granted in Portugal by credit institutions, financial companies, payment institutions, or electronic money institutions.
- Decree-Law 103/2025 of September 11, 2025 (“Decree-Law 103/2025”) approves the regime for the assignment and servicing of bank credits (“RCGCB”) and amends the Credit Securitisation Regime.
- Decree-Law 103/2025 transposes into the national legal framework Directive (EU) 2021/2167 (the “Directive”) on credit servicers and credit purchasers and amending Directives 2008/48/EC and 2014/17/EU, which should have been transposed by the end of 2023.
- The rules on credit assignment and servicing cover a broader range of credits than those specified in Directive (EU) 2021/2167 and are not restricted to non-performing loans (“NPLs”).
- Regarding credit servicing, the RCGCB regulates the options available to Member States, including the authority for credit servicers to receive and hold borrowers’ funds.