NPL transactions continued to take off in the third quarter of 2021. A growing interest in NPL securitizations has been perceived, especially in Spain. In Europe, meanwhile, talks continue on two key topics: the draft directive on credit purchasers and credit servicers – which has made great progress –, and talks on the European Banking Association’s templates aimed at simplifying NPL portfolio transactions. The gradual disappearance of forbearance programs and other support measures in Latin America, Spain and Portugal are fueling very reasonable estimates on the forthcoming launch of new transactions.
The government and representatives of workers’ and employers’ organizations have sealed the VI Labor Relations Agreement on the Protection of Employment adopting a number of measures targeted at extending the ERTE COVID-19 temporary collective layoff procedures . An increase in the minimum wage and other important measures from a labor standpoint have also been published.
The regulatory development of the remuneration register goes beyond what the legal rules would allow and generates numerous interpretative doubts.
Royal Decree-Law 17/2021, of September 14, 2021, on urgent measures to reduce the impact of the steep rise in natural gas prices on the gas and electricity retail markets (RDL 17/2021) came into force on September 16, 2021. It contains a raft of measures in various areas aimed at containing the steep rise in the price of electricity on the Iberian wholesale market and mitigating its effects on the most vulnerable.