In the Belgian Official Gazette of today, the two Royal Decrees containing the implementation measures for the covered bonds legislation have been published:

  1. the Royal Decree on the issuance of Belgian covered bonds by Belgian credit institutions, which determines, among others, the eligibility and valuation criteria of the cover assets in the cover pool; and
  2. the Royal Decree on the portfolio manager in connection with the issuance of Belgian covered bonds by Belgian credit institutions, which determines, among others, the eligibility criteria and the tasks of portfolio managers.

Both Royal Decrees enter into force as of 18 October 2012.

The Belgian covered bonds legislation entered into force on 3 September 2012, and was discussed in our Finance e-bulletin 2012/04.