The Act on the Secondary Market for Non-Performing Loans and Credit Services Institutions, or Secondary Credit Market Act (Kreditzweitmarktgesetz – KrZwMG), entered into force on 30 December 2023. Sections 6(3) and 8(3) KrZwMG give rise to new reporting obligations to BaFin and the Bundesbank in the event of the transfer of non-performing loan agreements or claims of the lender arising therefrom on a credit purchaser.