Please find enclosed the Consultation Draft Legislative Decree implementing Directive (EU) 2021/2167 (‘Secondary Market Directive’ or ‘SMD’).

On 31st January 2024 the Treasury Department launched the public consultation on the draft legislative decree implementing the Secondary Market Directive (‘Draft Decree’) that promotes the improvement of conditions for the sale of impaired loans on the secondary market.
In particular, the MDS pursues, inter alia, (i) the liberalization of the assignment of impaired loans by credit institutions by eliminating obstacles at the national level, and (ii) the entry of new entrants through the opening of individual national markets and, consequently, their harmonization. These objectives are pursued by simultaneously increasing the safeguards on the credit market and the protections for assigned debtors.