astronomical clock

Eviction limitations extended

Category: ABS NPLs Regulation

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New law poses risk for Spanish asset quality

Royal Decree-Law 37/2020, introduced last month by the Spanish government, extends the limitations on evictions of vulnerable residential tenants until May 2021. The regulations are expected to negatively impact RMBS and non-performing loan ABS performance by prolonging the time lag until property repossession, as well as reducing the incentive for private-sector investment in Spanish residential real estate and adversely affecting recoveries from repossessed properties.

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