The European Covered Bond Council (
ECBC) has announced the publication of the ECBC Global Concept Note on Third Country Equivalence for Covered Bonds. Developed by the ECBC Global Issues Working Group, this Note seeks to provide a roadmap aimed at helping regulators and national supervisory authorities outside of the European Economic Area (EEA), and stakeholders in covered bond markets more generally, to better prepare for the potential requirements to fulfill in order to align policy and market best practices to achieve equivalence with the Covered Bond Directive, which was implemented across the EEA as of July 2022.
The publication highlights commentary on a number of key aspects:
- ECBC's leading actions towards a more harmonised legislation;
- A global breakdown where relevant legislation is in place or is under discussion (including a section on Australia and New Zealand;
- A legislative update at EU level and beyond;
- The equivalence assessment procedure of the European Commission.
Download the ECBC press release >
Read the ECBC Global Concept Note on Third Country Equivalence for Covered Bonds >