The action plan on tackling NPLs in the aftermath of the COVID-19 crisis presented by the Commission on 15 December 2020 mandated, among others, to establish an NPL advisory panel consisting of relevant industry stakeholders and consumer organisations. The purpose of the Panel would be to support the Commission in implementing many of the actions presented in the action plan and also to advise the Commission as regards future proposals.
Therefore, on 23 June 2021, the Commission established the NPL Advisory Panel for a tenure of two years, as an informal Commission expert group. The Panel has proven to be a veritable asset in providing expert feedback and advice to the Commission, in first instance on the measures regarding the development of NPL secondary markets. It helped to make swift progress on a number of initiatives included in the action plan, including the best-execution sales guidelines.
When the mandate of the Panel expired, on 23 June 2023, it was extended for further two years to finalise the ongoing work, notably on securitisation to develop further secondary markets for NPLs, and on monitoring further developments in NPLs secondary markets to potentially foster their transparency and efficiency.
On 15 December 2023, the NPL Advisory Panel issued a paper on exploring the role of securitisation to further develop secondary markets for NPLs.
Related links
NPL Advisory Panel in the transparency register of expert groups