Asset Covered Securities (Amendment) Bill 2007

Public bill · Government · Presented

Updates Ireland’s covered-bonds framework to reflect newer EU rules and developments in other countries. It allows a new type of lender focused on commercial mortgages, permits certain mortgage-backed securities and overseas assets in cover pools, and introduces rules for hedge collateral, property valuations and minimum extra security—generally 3% for residential and public-sector pools and 10% for commercial-mortgage pools. It also strengthens supervision, registration, disclosure, monitoring and protections for covered-bond investors, while clarifying existing rules and enabling lenders to operate across more than one approved category.

Formal long title

Bill entitled an Act to amend the Asset Covered Securities Act 2001

Last updated 12 April 2018