Circular CSSF 25/895

Information to be transmitted in the context of the issuance of covered bonds under the Law of 8 December 2021

To credit institutions issuing covered bonds Luxembourg, 31 July 2025

Dear Sirs, Madams,

1. This circular aims to define the format, content, and transmission procedures for the information to be submitted to the CSSF by Luxembourg law credit institutions that have issued covered bonds (hereinafter "issuing credit institutions"), in application of the Law of 8 December 2021 on the issuance of covered bonds (hereinafter the "Law").

2. The terms and references used in the information tables, as well as the regulatory limits and ratios mentioned therein, are defined in the Law.

3. The information referred to in Article 16 of the Law must be transmitted separately according to the following procedures:
   i. quarterly and by means of the tables defined by the CSSF in the annex for the information referred to in points 1°, 4°, 5° and 6°;
   ii. annually in a free-form PDF report for the information referred to in points 2°, 3° and 7°.

4. For the transmission of the information referred to in points 1°, 4°, 5° and 6°, issuing credit institutions are requested to complete the table appearing in the annex, which is available in electronic format on our website at https://www.cssf.lu/en/Document/annexe-a-la-circulaire-cssf-25-895/. Issuing credit institutions are requested to respect the integrity of the file, i.e., not to modify the structure of the tables included therein. For issuing credit institutions with multiple issuance programs, the tabs to be completed with data at the level of each issuance program must be duplicated per issuance program. This approach is to be adopted for tabs to be completed by covered bond and/or currency. The file name must respect the following convention: OTHREP-Bxxxx-LDG_Reporting_YYYY_MM. The sequence "xxxx" must be replaced by the four-digit identification number of the issuing credit institution, and the sequences "YYYY" and "MM" must be replaced respectively by the year and month to which the data refer. The file must necessarily be in ".xlsx" format. No other format will be considered.

The data submission dates have been aligned with the quarterly submission dates of the COREP/FINPR prudential reporting defined by the EBA (i.e., respectively 11 February, 11 May, 11 August and 11 November).

5. Regarding the submission of this set of information to the CSSF, the concerned issuing credit institutions must contact reportingbanques@cssf.lu to obtain a secure link to transmit the files.

For any questions regarding this circular, please contact reportingbanques@cssf.lu.

Claude WAMPACH
Director

Marco ZWICK
Director

Jean-Pierre FABER
Director

Françoise KAUTHEN
Director

Claude MARX
General Manager

Annex Quarterly Tables in .xlsx format

General Remarks

In the case of an issuing credit institution with multiple covered bond issuance programs in a given category of covered bonds, the tabs COVLDG-HYPO, COVLDG-PUB, COVLDG-MOB, COVLDG-ENR, OGEQS are to be duplicated per issuance program without modifying the structure of the underlying tables.

In this context, the tab naming convention is to add a _Z where Z is an integer, starting from 1 and increasing with each issuance program as referenced in column C of the "Types of covered bonds" tab/table detailing the covered bond issuance programs. Example: COVLDG-HYPO_1 for the issuance program related to mortgage covered bonds referenced 1 in the detailed table of covered bond issuance programs.

The same applies to the LIQ and MAT tabs (per covered bond/currency).
In this context, the tab naming convention is as follows:
1) LIQ_X where X is an integer, starting from 1 and increasing with each issuance program/ISIN as referenced in column B of the "Types of covered bonds" tab/table detailing the covered bond issuance programs.
2) MAT_Z_DEV where Z is an integer, starting from 1 and increasing with each issuance program as referenced in column C of the "Types of covered bonds" tab/table detailing the covered bond issuance programs and DEV is the ISO code of the reported currency (enter ALL for all currencies combined).

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Reference Date: DD/MM/YYYY

Numerator (1), Denominator (2), Ratio (3)	Amount
1 cf. sum of coverage requirements
2 according to FINREP reporting (F1.3, r310, c010)
3
4 Ratio = 1 / (2-3) Max 20%	#DIV/0!
Total commitments, including own funds
Total eligible deposits (article 1 point 37 law of 18 December 2015)
To be completed for all issued covered bonds

Limit specific to credit institutions other than a covered bond issuing bank - Art. 2, 2° of the amended Law of 8 December 2021 on the issuance of covered bonds (hereinafter "LELG") Total coverage pools (article 1 18° LELG)

Types of issued covered bonds

Nominal Amount (in EUR)
of which nominal amount of covered bonds authorized to bear the label "European Guaranteed Bonds" according to article 4 (1) 1° and 2°, (2) and (3) LELG
of which nominal amount of covered bonds authorized to bear the label "Super Senior European Guaranteed Bonds" according to article 4 (1) 1° and 2°, (2) and (3) LELG
of which nominal amount not put into circulation ["conserved" covered bond] (in EUR)

A In the form of "mortgage covered bonds" referred to in article 3 (1) 1° and 2° B In the form of "public covered bonds" referred to in article 3 (1) 3° and 4° LELG C In the form of "movable covered bonds" referred to in article 3 (1) 5° and 6° LELG D In the form of "renewable energy covered bonds" referred to in article 3 (1) 7° LELG E public covered bonds F renewable energy covered bonds

Issuance Program Number	Issuance Program	ISIN (if available)	Label (Not applicable/European Guaranteed Bond/Super Senior European Guaranteed Bond)	Type of Covered Bond	Maturity	Currency	Nominal Amount in Currency
(Enter X, an integer, starting from 1 and increasing with each issuance program / ISIN combination)					DD/MM/YYYY
Enter Z, an integer, starting from 1 with each issuance program...

In accordance with article 3 LELG
For each covered bond issuance program, indicate:

Nominal Amount (in EUR)
of which nominal amount of covered bonds authorized to bear the label "European Guaranteed Bonds" according to article 4 (1) 1° and 2°, (2) and (3) LELG
of which nominal amount not put into circulation ["conserved" covered bond] (in EUR)
Covered by transitional provisions referred to in article 41 LELG

Nominal Amount	Present Value
1) Ordinary coverage assets (articles 6 (4) 1° and 8 LELG)	- -
a loans secured by residential real estate	- -
b loans secured by industrial, commercial or professional real estate	- -
c loans secured by real estate under construction	- -
of which (a+b+c) of which loans acquired under article 3 paragraph 3	- -
d In the case of loans in the form of/secured by bonds or other similar debt securities
d.1 intragroup guaranteed bonds (article 3, paragraph 2, 1°)	- -
d.2 secured by public authorities (article 3, paragraph 2, 2°)	- -
2) Replacement assets (article 6 (4) 2° and (6) LELG)	- -
a cash	- -
b assets referred to in article 6 (6) 2° LELG	- -
c guaranteed bonds referred to in article 6 (6) 3° LELG	- -
d commitments of public authorities referred to in article 6 (6) 4° LELG	- -
3) Liquid assets (articles 6 (4) 3° and 9)	- -
4) Claims associated with derivative contracts (articles 6 (4) 4° and 7)	- -

Nominal Amount	Present Value
5) Commitments related to covered bonds	- -
a principal payment obligations (article 6 (3) 1° LELG)	- -
b interest payment obligations (article 6 (3) 2° LELG)	- -
c payment obligations associated with derivative contracts (article 6 (3) 3° LELG)	- -
d maintenance and management costs referred to in article 6 (3) 4° LELG.	- -

In the event that the 2% flat rate is not applied, specify the rate retained below:

Amount/Outstanding Nominal	Present Value
6) Total nominal outstanding of covered bonds
7) Nominal value of covered bonds
8) Coverage pool (1+2+3+4)	- -
of which assets used to cover costs referred to in article 6 (3) 4° LELG	- -

R1	Proportion of replacement assets in the coverage pool (article 6 (6) LELG)	= 2 / 7	MAX 20%	#DIV/0!
R2	Proportion of real estate and movable property under construction in ordinary coverage values (article 8 (3) LELG)	= 1 c / 1	MAX 20%	#DIV/0!
R3	Nominal coverage ratio (article 6 (2) LELG)	= (1+2+3+4) / 6	MIN 100%	#DIV/0!
R3 Bis	Coverage ratio based on present value (article 6 (1) LELG)	= (1+2+3+4) / 5	MIN 100%	#DIV/0!
R4	Nominal overcollateralization of covered bonds	= [(1+2+3+4) / 6]-100%	MIN 5%	#DIV/0!
R4 Bis	If applicable, legal or contractual overcollateralization in present value	= [(1+2+3+4) / 5]-100%	MIN XX %	#DIV/0!

Present Value	Amount of principal of combined privileges	Level of contribution
L5 for assets contributing up to 70% of their value under article 8 (2) 1st paragraph, first sentence	0,00%
L6 for assets contributing for their value under article 8 (2) 1st paragraph, last sentence	0,00%
L7 for assets contributing up to 60% of their value under article 8 (2) 2nd paragraph, first sentence	0,00%
L8 for assets contributing up to 80% of their value under article 8 (2) 2nd paragraph, second sentence	0,00%

In accordance with articles 3, 4, 6 and 8 LELG

E- Level of contribution in value of physical assets to the coverage of liabilities (article 8 (2) LELG), if applicable

A- Coverage Assets
B- Commitments related to covered bonds
C- Nominal outstanding of covered bonds of the category

Programme d'émission
Reference Date: DD/MM/YYYY

To be completed for each category of mortgage covered bonds, per issuance program. In case of eligibility for the status of Super Senior European Guaranteed Bond, also complete the OGEQS table.

Nominal Amount	Present Value
1) Ordinary coverage assets (articles 6 (4) 1° and 3 LELG)	- -
e Loans to public authorities in accordance with article 3 (1) 3°	- -
Loans secured by:
f public authorities in accordance with article 3 (1) 4° paragraph a)	- -
g bonds issued in accordance with article 3 (1) 4° paragraph b)	- -
h bonds issued in accordance with article 3 (1) 4° paragraph c)	- -
i commitments taken in accordance with article 3 (1) 4° paragraph d)	- -
of which (e+f+g+h+i) of which loans acquired under article 3 paragraph 3	- -
d In the case of loans in the form of/secured by bonds or other similar debt securities
d.1 intragroup guaranteed bonds (article 3, paragraph 2, 1°)	- -
d.2 secured by public authorities (article 3, paragraph 2, 2°)	- -
2) Replacement assets (article 6 (4) 2° and (6))	- -
a cash	- -
b assets referred to in article 6 (6) 2° LELG	- -
c guaranteed bonds referred to in article 6 (6) 3° LELG	- -
d commitments of public authorities referred to in article 6 (6) 4° LELG	- -
3) Liquid assets (articles 6 (4) 3° and 9)	- -
4) Claims associated with derivative contracts (articles 6 (4) 4° and 7)	- -

Outstanding Nominal	Present Value
5) Commitments related to covered bonds	- -
a principal payment obligations (article 6 (3) 1° LELG)	- -
b interest payment obligations (article 6 (3) 2° LELG)	- -
c payment obligations associated with derivative contracts (article 6 (3) 3° LELG)	- -
d maintenance and management costs referred to in article 6 (3) 4° LELG.	- -

In the event that the 2% flat rate is not applied, specify the rate retained below:

Amount/Outstanding Nominal	Present Value
6) Total nominal outstanding of covered bonds
7) Nominal value of covered bonds
8) Coverage pool (1+2+3+4)	- -
of which assets used to cover costs referred to in article 6 (3) 4° LELG	- -

R1	Proportion of replacement assets in the coverage pool (article 6 (6) LELG)	= 2 / 7	MAX 20%	#DIV/0!
R3	Nominal coverage ratio (article 6 (2) LELG)	= (1+2+3+4) / 6	MIN 100%	#DIV/0!
R3 Bis	Coverage ratio based on present value (article 6 (1) LELG)	= (1+2+3+4) / 5	MIN 100%	#DIV/0!
R45	Nominal overcollateralization of covered bonds	= [(1+2+3+4) / 6]-100%	MIN 5%	#DIV/0!
R4 Bis	If applicable, legal or contractual overcollateralization in present value	= [(1+2+3+4) / 5]-100%	MIN XX %	#DIV/0!

To be completed for each category of public covered bonds, per issuance program. In case of eligibility for the status of Super Senior European Guaranteed Bond, also complete the OGEQS table.

A- Coverage Assets
B- Commitments related to covered bonds
C- Nominal outstanding of covered bonds of the category D- Limits and coverage requirements

Programme d'émission
Reference Date: DD/MM/YYYY

In accordance with articles 3, 4, 6, 7 and 9 LELG

In accordance with articles 3, 4, 6 and 8 LELG

Nominal Amount	Present Value
1) Ordinary coverage assets (articles 6 (4) 1° and 8 LELG)	- -
j loans secured by aircraft	- -
k loans secured by ships and boats	- -
l loans secured by railway objects	- -
c loans secured by movable property under construction	- -
of which (j+k+l+c) of which loans acquired under article 3 paragraph 3	- -
d In the case of loans in the form of/secured by bonds or other similar debt securities
d.1 intragroup guaranteed bonds (article 3, paragraph 2, 1°)	- -
d.2 secured by public authorities (article 3, paragraph 2, 2°)	- -
2) Replacement assets (article 6 (4) 2° and (6) LELG)	- -
a cash	- -
b assets referred to in article 6 (6) 2° LELG	- -
c guaranteed bonds referred to in article 6 (6) 3° LELG	- -
d commitments of public authorities referred to in article 6 (6) 4° LELG	- -
3) Liquid assets (articles 6 (4) 3° and 9)	- -
4) Claims associated with derivative contracts (articles 6 (4) 4° and 7)	- -

Outstanding Nominal	Present Value
5) Commitments related to covered bonds	- -
a principal payment obligations (article 6 (3) 1° LELG)	- -
b interest payment obligations (article 6 (3) 2° LELG)	- -
c payment obligations associated with derivative contracts (article 6 (3) 3° LELG)	- -
d maintenance and management costs referred to in article 6 (3) 4° LELG.	- -

In the event that the 2% flat rate is not applied, specify the rate retained below:

Amount/Outstanding Nominal	Present Value
6) Total nominal outstanding of covered bonds
7) Nominal value of covered bonds
8) Coverage pool (1+2+3+4)	- -
of which assets used to cover costs referred to in article 6 (3) 4° LELG	- -

R1	Proportion of replacement assets in the coverage pool (article 6 (6) LELG)	= 2 / 7	MAX 20%	#DIV/0!
R2	Proportion of real estate and movable property under construction in ordinary coverage values (article 8 (3) LELG)	= 1 c / 1	MAX 20%	#DIV/0!
R3	Nominal coverage ratio (article 6 (2) LELG)	= (1+2+3+4) / 6	MIN 100%	#DIV/0!
R3 Bis	Coverage ratio based on present value (article 6 (1) LELG)	= (1+2+3+4) / 5	MIN 100%	#DIV/0!
R4	Nominal overcollateralization of covered bonds	= [(1+2+3+4) / 6]-100%	MIN 5%	#DIV/0!
R4 Bis	If applicable, legal or contractual overcollateralization in present value	= [(1+2+3+4) / 5]-100%	MIN XX %	#DIV/0!

Present Value	Amount of principal of combined privileges	Level of contribution
L5 of which assets contributing up to 70% of their value under article 8 (2) 1st paragraph, first sentence	%
L6 of which assets contributing for their value under article 8 (2) 1st paragraph, last sentence	%
L7 of which assets contributing up to 60% of their value under article 8 (2) 2nd paragraph, first sentence	%

E- Level of contribution in value of physical assets to the coverage of liabilities (article 8 (2) LELG), if applicable

To be completed for each category of movable covered bonds, per issuance program. In case of eligibility for the status of Super Senior European Guaranteed Bond, also complete the OGEQS table.

A- Coverage Assets
B- Commitments related to covered bonds
C- Nominal outstanding of covered bonds of the category D- Limits and coverage requirements

Programme d'émission
Reference Date: DD/MM/YYYY

In accordance with articles 3, 4, 6 and 8 LELG

Nominal Amount	Present Value
1) Ordinary coverage assets (articles 6 (4) 1° and 8 LELG)	- -
m loans secured by real estate related to renewable energy generating projects	- -
n loans secured by movable property related to renewable energy generating projects	- -
c loans secured by real estate/movable property under construction	- -
of which (m+n+c) of which loans acquired under article 3 paragraph 3	- -
d In the case of loans in the form of/secured by bonds or other similar debt securities
d.1 intragroup guaranteed bonds (article 3, paragraph 2, 1°)	- -
d.2 secured by public authorities (article 3, paragraph 2, 2°)	- -
d.3 under article 3 paragraph 2, 3°	- -
2) Replacement assets (article 6 (4) 2° and (6))	- -
a cash	- -
b assets referred to in article 6 (6) 2° LELG	- -
c guaranteed bonds referred to in article 6 (6) 3° LELG	- -
d commitments of public authorities referred to in article 6 (6) 4° LELG	- -
3) Liquid assets (articles 6 (4) 3° and 9)	- -
4) Claims associated with derivative contracts (articles 6 (4) 4° and 7)	- -

Outstanding Nominal	Present Value
5) Commitments related to covered bonds	- -
a principal payment obligations (article 6 (3) 1° LELG)	- -
b interest payment obligations (article 6 (3) 2° LELG)	- -
c payment obligations associated with derivative contracts (article 6 (3) 3° LELG)	- -
d maintenance and management costs referred to in article 6 (3) 4° LELG.	- -

In the event that the 2% flat rate is not applied, specify the rate retained below:

Amount/Outstanding Nominal	Present Value
6) Total nominal outstanding of covered bonds
7) Nominal value of covered bonds
8) Coverage pool (1+2+3+4)	- -
of which assets used to cover costs referred to in article 6 (3) 4° LELG	- -

R1	Proportion of replacement assets in the coverage pool (article 6 (6) LELG)	= 2 / 7	MAX 20%	#DIV/0!
R2	Proportion of real estate and movable property under construction in ordinary coverage values (article 8 (3) LELG)	= 1 c / 1	MAX 20%	#DIV/0!
R3	Nominal coverage ratio (article 6 (2) LELG)	= (1+2+3+4) / 6	MIN 100%	#DIV/0!
R3 Bis	Coverage ratio based on present value (article 6 (1) LELG)	= (1+2+3+4) / 5	MIN 100%	#DIV/0!
R4	Nominal overcollateralization of covered bonds	= [(1+2+3+4) / 6]-100%	MIN 5%	#DIV/0!
R4 Bis	If applicable, legal or contractual overcollateralization in present value	= [(1+2+3+4) / 5]-100%	MIN XX %	#DIV/0!

Present Value	Amount of principal of combined privileges	Level of contribution
L5 of which assets contributing up to 70% of their value under article 8 (2) 1st paragraph, first sentence	%
L6 of which assets contributing for their value under article 8 (2) 1st paragraph, last sentence	%
L9 of which assets contributing up to 50% or more of their value under article 8 (2) 3rd paragraph, second sentence	%

In case of application of a rate greater than 50%, specify the rate retained below: %

E- Level of contribution in value of physical assets to the coverage of liabilities (article 8 (2) LELG), if applicable

D- Limits and coverage requirements

To be completed for each category of renewable energy covered bonds, per issuance program. In case of eligibility for the status of Super Senior European Guaranteed Bond, also complete the OGEQS table.

A- Coverage Assets
B- Commitments related to covered bonds
C- Nominal outstanding of covered bonds of the category

Programme d'émission
Reference Date: DD/MM/YYYY

Values of exposures / values of coverages in accordance with the provisions of article 129 CRR, paragraphs 1 bis to 3 (A)	Of which those contributing to the overcollateralization provided for in article 129 CRR, paragraph 3 bis (B)	Net values excluding contribution to overcollateralization (C)=(A)-(B)
a) Exposures on or guaranteed by European Union entities (129 (1) a) CRR)	0
a1 of which loans granted to or guaranteed by public companies (article 4 (1) 2° LELG)	0
b) Exposures on or guaranteed by entities from third countries (129 (1) b) CRR)	0
b1 - relevant to 1st credit quality tier	0
b2 - relevant to 2nd credit quality tier	0
c) Exposures on credit institutions (129 (1) c) CRR)	0
c1 - relevant to 1st credit quality tier	0
c2 - relevant to 2nd credit quality tier	0
c3 - relevant to 3rd credit quality tier	0
d) Loans secured by residential real estate	0
e) Fully secured residential real estate loans by a protection provider	0
f) Loans secured by commercial real estate	0
g) Loans secured by maritime liens on ships	0
T Total eligible coverage assets (a+b+c+d+e+f+g)	0
N Amount of total nominal outstanding of guaranteed bonds
(T/N)-1 Overcollateralization	#DIV/0!

Ratios based on the value of exposures, excluding exposures contributing to overcollateralization (C) #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Control of specific limits applicable to Super Senior European Guaranteed Bonds in accordance with the provisions of article 129 CRR, paragraph 1 b) and 1 bis a) to d)

Ratio based on the value of exposures, including exposures contributing to overcollateralization (A)

Limit fixed by article 129 (1) b) - b2 / N less than or equal to 20%	#DIV/0!
Limit fixed by article 129 (1 bis) d) - (c1 + c2 + c3) / N less than or equal to 15%
Limit fixed by article 129 (1 bis) a) - c1 / N less than or equal to 15%
Limit fixed by article 129 (1 bis) b) - c2 / N less than or equal to 10%
Limit fixed by article 129 (1 bis) c) - c3 / N less than or equal to 8%
Limit fixed by article 129 (1 bis) d) - (c2 + c3) / N less than or equal to 10%

"Super Senior European Guaranteed Bond" - To be completed individually for each covered bond issuance program

In accordance with article 4 LELG

of which short-term deposits with an initial maturity not exceeding 100 days
of which derivative contracts compliant with article 7 (3) LELG

Programme d'émission
Reference Date: DD/MM/YYYY

By type of eligible asset in accordance with

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