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22 April 2022 Supervision Supervision label Q&A

Question:

What is the public register of recognised covered bonds?

Answer:

On 19 November 2014, the regulations for registered covered bonds in the Netherlands were included in the Financial Supervision Act (Wet op het financieel toezicht – Wft), with further elaboration of the rules being given on 28 November 2014 in the Decree on Prudential Rules for Financial Undertakings (Besluit prudentiële regels Wft – Bpr), the Decree on Conduct of Business Supervision of Financial Undertakings (Besluit gedragstoezicht financiële ondernemingen Wft) and the Regulation implementing the Financial Supervision Act (Uitvoeringsregeling Wft). These regulations set the conditions and minimum requirements that an issuing bank with its registered office in the Netherlands must comply with before the bonds issued by – or to be issued by – that bank qualify as covered bonds and can be entered in our public register of covered bonds.

These registered covered bonds may also comply with the requirements in Section 129 of the Capital Requirements Regulation (CRR). If they do, this is noted in the register.

In addition, the register includes the issue date, maturity and nominal value for each registered covered bond via a link to the investor reports for the programmes concerned.

We may decide to remove the issuing bank from the register if it no longer complies with the requirements for registered covered bonds. See also the Q&A document "DNB's enforcement of supervision on registered covered bonds". In that case, we will remove the registration of the issuing bank from the register.

If the provision of information to DNB is so deficient that it is no longer possible to assess whether the registered covered bond complies with the requirements of Section 129 of the CRR, we will assume that the bonds do not comply with the requirements of Section 129 on the basis of Section 3:33a(3) of the Wft.