Through Decree-Law No. 103/2025, of 11 September 2025, Directive (EU) 2021/2167 of 24 November 2021, was transposed into national law. This instrument, approved by the European Parliament and Council, establishes a new legal framework for accessing and carrying out the activity of managing non-performing bank loans, along with a set of requirements applicable to purchasers of such loans.

To ensure the transposition of the Directive, this statute approves the Regime for the Assignment and Management of Bank Loans (Regime da Cessão e Gestão de Créditos Bancários (“RCGCB”)) and the new operating rules of the Central Credit Register (Central de Responsabilidades de Crédito (“CRC”)). Among the various amended laws, Decree-Law No. 453/99, of 5 November 1999 stands out, as it establishes the legal framework for credit securitization and regulates the creation and operation of securitization funds, their management companies, and credit securitization entities.

This decree will enter into force on 10 December 2025 (i.e., 90 days after the gazetting date).

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