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Covered bonds are debt securities issued by credit institutions and secured by a pool of mortgage loans or credit towards the public sector. They are characterised further by the double protection offered to bondholders, the segregation of assets in their cover pool, over-collateralisation, and their strict supervisory frameworks. Currently, their issuance is concentrated in five Member States. National regulatory regimes vary widely in terms of supervision and composition of the cover pool. Lastly ...

Die Kommission hat eine Richtlinie und eine Verordnung vorgeschlagen, mit denen ein einheitlicher Rahmen für gedeckte Schuldverschreibungen geschaffen werden soll. Das Parlament stimmt im April über die in den interinstitutionellen Verhandlungen vereinbarten Texte ab.

The Commission proposed a legislative framework for covered bonds. The supporting impact assessment (IA) provided a coherent problem analysis and the corresponding set of objectives. The impacts analysis focused mainly on the costs and benefits of enhancing the Capital Markets Union potential. However, the IA did not assess the options in terms of their proportionality and did not check the subsidiarity or proportionality of the regulatory options.

A new Directive on credit agreements relating to residential property aims to facilitate cross-border lending, protect consumers, and prevent irresponsible lending.