Legislation

  1. Financial Institutions Act
    1. Chapter 2, subchapter IV: Covered Bonds
      1. Section 2-25 Scope of application
      2. Section 2-26 Protected term
      3. Section 2-27 Business restrictions and obligation to notify upon start-up
      4. Section 2-28 Requirements on the composition of the cover pool
      5. Section 2-29 Calculation of the value of underlying assets
      6. Section 2-30 Pledging and execution
      7. Section 2-31 Asset coverage requirement
      8. Section 2-32 Liquidity requirements
      9. Section 2-33 Register requirement
      10. Section 2-34 Independent inspector
      11. Section 2-35 Preferential claim over the cover pool, joint debt recovery etc
  2. Regulations on mortgage credit institutions
    1. Chapter 1 Activity of mortgage credit institutions
      1. Section 1 Scope of application
      2. Section 2 Holders of covered bonds
      3. Section 3 Capital requirements regulations
      4. Section 4 Requirement for rating of the home country of a loan and collateral, and requirement on systems
      5. Section 5 Interest rate risk
      6. Section 6 Liquidity risk
      7. Section 7 Foreign exchange risk
      8. Section 8 Derivative contracts
      9. Section 9 Cover pool
      10. Section 10 Valuation
      11. Section 11 Requirements as to register and independent inspector
    2. Chapter 2 Joint recovery of debt etc
      1. Section 12 Relationship to bankruptcy legislation etc
      2. Section 13 Payment of expenses
    3. Chapter 3 Administration of an estate where timely payment can be made from the cover pool
      1. Section 14 Timely payment etc
      2. Section 15 Estate’s disposal over the cover pool
      3. Section 16 Estate’s assumption of the debtor’s position in derivative contracts
    4. Chapter 4 Administration of the estate when timely payment cannot be made from the cover pool
      1. Section 17 Halt to payments
      2. Section 18 Effect of halt to payments
      3. Section 19 Calculation of claims
    5. Chapter 5 Entry into force
      1. Section 20 Entry into force