United Kingdom (and EU regulation)

Covered bond reform – legislation published in the OJ

On 18 December 2019, there was published in the Official Journal of the EU (OJ):

Regulation (EU) 2019/2160 amending Regulation (EU) No 575/2013 as regards exposures in the form of covered bonds; and
Directive (EU) 2019/2162 amending Directives 2009/65/EC and 2014/59/EU on the issue of covered bonds and covered bond public supervision.

The legislation comes into force on 6 January 2020. The Regulation applies from 8 July 2022. Member States shall adopt and publish, by 8 July 2021, the laws, regulations and administrative provisions necessary to comply with the Directive.