September 14 2021

Targeted consultation of the European Commission: GBIC rejects the introduction of an EU-wide data hub for NPLs

From the GBIC's point of view, there is already a high level of transparency on the secondary markets for non-performing loans (NPLs). The market participants know each other, their standards and particular expertise. If NPL are not sold, price expectations are the reasons for that, not missing transparency. In this respect, greater transparency would not increase the efficiency of the secondary markets for NPLS. The introduction of an EU-wide "data hub" for NPLs, which is currently considered by the European Commission, would therefore create only very limited added value. At the same time, considerable data protection problems would be the result. The disclosure requirements associated with a data hub would also mean a disproportionate bureaucratic effort, especially for smaller institutions. The GBIC  therefore rejects the introduction of a data hub for NPLs.

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