Entre a eficiência do mercado secundário e a tutela do devedor: o Regime da Cessão e Gestão de Créditos Bancários à luz do Decreto-Lei n.º 103/2025

Abstract

This article examines the legal regime introduced by Decree-Law No. 103/2025, of 11 September, which transposes Directive (EU) 2021/2167 on credit servicers and credit purchasers into Portuguese law, establishing the legal framework for non-performing 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 essential 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.