Between Secondary Market Efficiency and Debtor Protection: The Regime for the Assignment and Management of Bank Loans under Decree-Law No. 103/2025
DOI:
https://doi.org/10.34625/issn.2183-2705(40.2)2026.ic-3Keywords:
Assignment of receivables; Debtor; NPL; Decree-Law 103/2025; Consumer protection; Economic Law.Abstract
This article examines the legal regime introduced by Decree-Law No. 103/2025, of 11 September, which transposes into Portuguese law Directive (EU) 2021/2167 on credit servicers and credit purchasers of non-performing bank loans (NPLs). The assignment of bank receivables has become an increasingly common risk-management tool in the European financial sector, but it raises sensitive questions regarding debtor protection, since debtors are often consumers or small and medium-sized enterprises in a position of economic vulnerability. The research proceeds from the premise that the social function of contract and the safeguarding of fundamental rights must be preserved even within secondary credit markets, undertaking a dogmatic analysis of the new Regime for the Assignment and Management of Bank Loans (RCGCB) and engaging with European doctrine and case law. It concludes that Decree-Law 103/2025 represents a relevant step in aligning Portugal with European regulation, while the need remains to strengthen mediation, transparency and effective judicial control mechanisms.
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