7 January 2015
On 1 January 2015 a revised legislative framework relating to registered covered bonds came into force in the Netherlands (2015 CB Legislation). The 2015 CB Legislation contains newly introduced cover asset quantity and quality, liquidity buffer and audit requirements and reporting undertakings for issuing banks for the benefit of investors. It also takes into account the best practices identified by the European Banking Authority (EBA) in its report "EBA Report on EU Covered Bond Frameworks and Capital Treatment" of 1 July 2014. Clifford Chance was involved in the consultation process of the 2015 CB Legislation.