The Alternative Credit Council (ACC) has prepared a summary note for members on the recently published EU  Credit servicers, credit purchasers and the recovery of collateral Directive.  

While the Directive is purportedly focused on the secondary market for non-performing loans (NPLs), the proposals are relevant to the secondary markets for both performing and non-performing credit.  The definition of ‘credit servicer’ in the Directive is very broad and would potentially capture many asset managers involved in the secondary market for bank loans. 

AIMA and the Alternative Credit Council (ACC) are seeking volunteers to form a small group of active participants to assist with the production of an AIMA/ACC position paper on these proposals. If you would like to be involved in this working group please register your interest by contacting Nicholas Smith.