Circular NBB_2022_16 to Portfolio Supervisors of Belgian Credit Institutions Issuing Belgian Covered Bonds

This circular establishes the specific missions and reporting obligations for portfolio supervisors designated by Belgian credit institutions issuing covered bonds. It mandates pre-issuance verification of legal and regulatory compliance, annual substantive testing of internal controls and coverage requirements, and monthly limited assurance reviews of coverage and liquidity tests. The document sets strict deadlines for reporting, including a 45-day submission window for pre-issuance reports and a 60-day window for annual reports, while requiring immediate notification of any non-compliance.

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NBB_2022_16 – 14 June 2022 Circular – Page 1/8 14 Berlaimont Boulevard – BE-1000 Brussels tel. +32 2 221 54 65 company number: 0203.201.340 RPM Brussels www.bnb.be

Circular
Brussels, 14 June 2022
Reference: NBB_2022_16 your contact:
Lisanne Vanderstappen tel. +32 2 221 41 97 lisanne.vanderstappen@nbb.be

Circular to Portfolio Supervisors of Belgian Credit Institutions Issuing Belgian Covered Bonds

Scope
The portfolio supervisor designated in accordance with Article 16 of Annex III of the Act of 25 April 2014 on the status and supervision of credit institutions and securities firms (the Banking Act).

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Lineage: In force

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Source: National Bank of Belgium — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works