Commission Implementing Regulation (EU) 2023/2083 of 26 September 2023 laying down implementing technical standards for the application of Article 16(1) of Directive (EU) 2021/2167of the European Parliament and of the Council with regard to the templates to be used by credit institutions for the provision to buyers of information on their credit exposures in the banking book (Text with EEA relevance)

1 This Regulation shall apply to the sales and transfers by credit institutions established in the Union of credit agreements that are classified as non-performing exposures in accordance with Article 47a of Regulation (EU) No 575/2013 of the European Parliament and of the Council that those credit institutions hold in their banking book, rather than in their trading book as defined in Article 4(1), point (86), of Regulation (EU) No 575/2013, and, that meet the time criteria set out in Article 16(7) of Directive (EU) 2021/2167.

2 This Regulation shall not apply to the following: (a) sales of non-performing credit agreements as part of sales of branches, sales of business lines or sales of clients’ portfolios which are not limited to non-performing credit agreements and transfers of non-performing credit agreements as part of an ongoing restructuring operation of the selling credit institution within insolvency, resolution or liquidation proceedings; (b) sales or transfers of non-performing credit agreements through securitisation, where Regulation (EU) 2017/2402 applies and the provision of the related information is governed by Delegated Regulation (EU) 2020/1224 and Implementing Regulation (EU) 2020/1225; (c) sales or transfers of non-performing credit agreements pursuant to credit default swap, total return swap and other derivative contracts, contracts of insurance and sub-participation contracts; (d) sales or transfers of non-performing credit agreements pursuant to a financial collateral arrangement as defined in Article 2(1), point (a), of Directive 2002/47/EC of the European Parliament and of the Council or a transaction that would be a securities financing transaction as defined in Article 4(1), point (139) of Regulation (EU) No 575/2013.

For the purposes of this Regulation, the following definitions apply: (1) ‘buyer’ means a credit purchaser, or a credit institution that receives a non-performing credit agreement in a transaction with another credit institution; (2) ‘counterparty’ means either a borrower or a protection provider in relation to the non-performing credit agreement being sold or transferred; (3) ‘protection provider’ means protection provider as defined in Article 1, point (13), of Regulation (EU) 2016/867 of the European Central Bank ; (4) ‘cut-off date’ means the reference date for the provision of information by credit institutions; (5) ‘non-performing credit agreement’ is a credit agreement as defined in Article 3, point (13), of Directive (EU) 2021/2167 which is classified as a non-performing exposure in accordance with Article 47a (3), points (a), (b) and (c) of Regulation (EU) No 575/2013;

1 Credit institutions shall provide prospective buyers with the following information on each credit agreement: (a) counterparty, as set out in Template 1 of Annex I; (b) credit agreement, as set out in Template 3 of Annex I; (c) collateral, guarantee and enforcement, as set out in Template 4.1 of Annex I; (d) mortgage guarantee, as set out in Template 4.2 of Annex I; (e) historical collection of repayments, as set out in Template 5 of Annex I.

2 Credit institutions shall provide the information referred to in paragraph 1 in accordance with the criteria and definitions laid down in the data glossary set out in Annex II and with the instructions set out in Annex III.

3 When providing the information specified in paragraph 1, credit institutions shall use the relationship table set out in Template 2 of Annex I which mentions the relations between the data fields.

1 Credit institutions shall provide information for all data fields that are marked as mandatory in the data glossary set out in Annex II, except where those data fields are not applicable pursuant to the criteria specified in the instructions set out in Annex III, and with the exception of information concerning all of the following transactions: (a) sales or transfers of a single non-performing credit agreement or non-performing credit agreements towards a single borrower; (b) sales or transfers of non-performing credit agreements under or forming a part of syndicated credit agreement facilities; (c) sales or transfers of non-performing credit agreement where the borrower is not domiciled in the Union, or has no registered office in the Union; (d) sales or transfers of non-performing credit agreements by a credit institution to an undertaking which is a member of the same group as defined in Article 4(1), point (138), of Regulation (EU) No 575/2013; (e) sales or transfers of non-performing credit agreements that the credit institution previously acquired from an entity other than a credit institution established in the Union and subject to the requirements of Regulation (EU) No 575/2013; (f) sales or transfers of unsecured non-performing credit agreements where a borrower is a natural person and where such credit agreements do not fall under the scope of Directive 2008/48/EC.

2 Credit institutions shall make reasonable efforts to provide information for the data fields that are not marked as mandatory in the data glossary set out in Annex II with exceptions for the transactions specified in paragraph 1, points (a) to (f).

1 Credit institutions shall provide prospective buyers with the information specified in Article 3 before entering into a contract for the sale or transfer of non-performing credit agreement, without prejudice to Article 6(2), point (b).

2 Credit institutions shall provide prospective buyers with the information specified in Article 3 in an electronic and machine-readable form, unless agreed otherwise between the credit institution and the prospective buyer.

1 When providing the information referred to in Article 3, credit institutions shallidentify information that is to be considered confidential pursuant to applicable Union law on data confidentiality or on banking secrecy, or pursuant to own internal rules or market practices and ensure adequate protection of such information in accordance with the applicable Union law on data confidentiality or banking secrecy.

2 Before providing the information referred to in Article 3, credit institutions and prospective buyers: (a) shall enter into confidentiality agreements drafted in conformity with applicable Union law; (b) shall share personal data only insofar as necessary before entering into a contract for the transfer or sale of non-performing credit agreements.

3 Credit institutions shall use secure channels including virtual data rooms or similar electronic means to provide the information referred to in Article 3.

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.