On 8 December 2021, there was published in the Official Journal of the EU (OJ), Directive (EU) 2021/2167 of 24 November 2021 on credit servicers and credit purchasers and amending Directives 2008/48/EC and 2014/17/EU. The Directive is commonly known as the Non-Performing Loans (NPLs) Directive and sets out a common EU framework and requirements for credit (loan) servicers and purchasers including NPL investors. The Directive enters into force on the 20^th day following its publication in the OJ (28 December 2021). Member states are expected to adopt measures implementing the Directive by 29 December 2023 and to apply those measures from 30 December 2023. Entities already carrying out credit servicing activities on 30 December 2023 will be allowed to continue carrying out those activities in their home Member State until the earlier of 29 June 2024 or the date on which they obtain an authorisation under the Directive.