Regulatory Alerts2014-01-01
Decree No. 164/2014 Coll. on the Register of Cover for Mortgage Bonds and Information Obligations of the Issuer
The Czech National Bank issued Decree No. 164/2014 Coll. to establish detailed requirements for mortgage bond issuers regarding the maintenance of cover registers and books, as well as specific information reporting obligations. The decree mandates that issuers maintain independent internal units to record eligible mortgage loans and substitute cover, ensuring data accuracy, security, and a ten-year retention period for all related documentation. Furthermore, it standardizes the valuation methods, currency conversion rules, and the specific data points that must be reported to the central bank to ensure the proper backing of outstanding mortgage bond liabilities.
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