Regulatory Alerts2021-11-05
Added · Updated
Law on the Issue of Covered Bonds and Covered Bond Public Supervision and Related Matters of 2021
This law establishes the legal framework for the issuance and public supervision of covered bonds in Cyprus, aligning national regulations with EU Directive 2019/2162. It defines eligible assets for cover pools, mandates the maintenance of a cover pool register, and requires approved Credit Institutions (CIs) to appoint a cover pool monitor to ensure ongoing compliance. The Central Bank of Cyprus is granted supervisory powers, including the authority to approve CIs, maintain registers, and appoint special managers in the event of insolvency to protect covered bond investors.
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