RegAlert2022-06-14 | NBB_2022_15Added
Practical Application Modalities of the Law of 25 April 2014 on Credit Institutions and Brokerage Companies, as Amended by the Law of 26 November 2021 to Transpose Directive 2019/2162
The National Bank of Belgium establishes practical rules for credit institutions to obtain general and specific authorizations for issuing covered bonds, including requirements for organizational capacity and application dossiers. A transitional emission limit of 8% of total assets applies from 8 July 2022 to 1 January 2024, after which the general limit is removed, though the Bank may impose individual limits to protect non-covered bond creditors. The circular defines eligible collateral categories, valuation standards for real estate and other assets, and mandates the maintenance of a special asset register, liquidity tests, and specific reporting obligations.
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NBB_2022_15 – 17 January 2022 Circular – Page 1/9 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_15 your contact:
Lisanne Vanderstappen tel. +32 2 221 41 97 lisanne.vanderstappen@nbb.be
Practical Application Modalities of the Law of 25 April 2014 on the Status and Supervision of Credit Institutions and Brokerage Companies, as Amended by the Law of 26 November 2021 to Ensure the Transposition of Directive 2019/2162 Concerning Covered Bonds and Public Supervision of Covered Bonds
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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
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