Regulatory Alerts2026-02-18
Added · Updated
Requirements Applicable to Special Approved Statutory Auditor for Credit Institutions Issuing Covered Bonds
This circular specifies the requirements for the Special Approved Statutory Auditor (REAS) appointed by credit institutions issuing covered bonds under the Law of 8 December 2021. It mandates that the REAS issue a limited assurance report before the first tranche and agreed-upon procedures reports for each subsequent tranche, alongside an annual reasonable assurance report confirming compliance with coverage, registration, and valuation rules. The document details the specific audit procedures, coverage asset typologies, and regulatory ratios that the REAS must verify to ensure the legal requirements for covered bond programs are met.
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