1.   Member States shall ensure that a credit institution provides a prospective credit purchaser with necessary information regarding a creditor’s rights under a non-performing credit agreement, or the non-performing credit agreement itself, and, if applicable, the collateral, so as to enable the prospective credit purchaser to conduct its own assessment of the value of the creditor’s rights under the non-performing credit agreement, or of the non-performing credit agreement itself, and the likelihood of recovery of the value of that agreement prior to entering into a contract for the transfer of that creditor’s rights under the non-performing credit agreement, or of the non-performing credit agreement itself, while ensuring the protection of information made available by the credit institution and of the confidentiality of business data.

2.   On a biannual basis, Member States shall require credit institutions that transfer to a credit purchaser a creditor’s rights under a non-performing credit agreement, or the non-performing credit agreement itself, to inform the competent authorities of the host Member State designated in accordance with Article 21(3) of this Directive, and the competent authorities referred to in Article 4(5) of Directive 2013/36/EU of the European Parliament and of the Council (22), of at least the following:

(a)

the legal entity identifier (LEI) of the credit purchaser or, where applicable, of its representative designated in accordance with Article 19, or where such identifier does not exist, of: (i) the identity of the credit purchaser or of the members of the credit purchaser’s management or administrative organ and the persons who hold qualifying holdings in the credit purchaser within the meaning of Article 4(1), point (36), of Regulation (EU) No 575/2013; and (ii) the address of the credit purchaser or, where applicable, its representative designated in accordance with Article 19;

(b)	the aggregate outstanding balance of the creditor’s rights under the non-performing credit agreements or of the non-performing credit agreements transferred;

(c)	the number and size of the creditor’s rights under the non-performing credit agreements or of the non-performing credit agreements transferred;

(d)	whether the transfer includes the creditor’s rights under the non-performing credit agreements, or the non-performing credit agreements themselves, concluded with consumers and the types of assets securing the non-performing credit agreements, when applicable.

3.   The competent authorities referred to in paragraph 2 may require credit institutions to provide the information referred to in that paragraph on a quarterly basis whenever they deem necessary, including in order to better monitor a high number of transfers that might occur during a crisis period.

4.   Member States shall ensure that the competent authorities of the host Member State communicate without delay the information referred to in paragraphs 2 and 3, and any other information that they might consider to be necessary for carrying out their functions and duties in accordance with this Directive, to the competent authorities of the home Member State of the credit purchaser.

5.   Paragraphs 1 to 4 shall be applied in accordance with Regulations (EU) 2016/679 and (EU) 2018/1725.