Regulatory Alerts2022-06-15 | NBB_2022_16Added · Updated
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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