EBA consults on draft technical standards on close correspondence for own-issued covered bonds

The European Banking Authority (EBA) launches today a consultation on draft Regulatory Technical Standards (RTS) on close correspondence between the fair value of an institution's covered bonds and the fair value of its assets. These RTS will be part of the Single rulebook aimed at enhancing regulatory harmonisation in the EU. The consultation runs until 1 September 2013.

The proposed draft RTS relate to prudential filters applied to own funds. In particular, they specify the criteria for defining the close correspondence between the fair value of the covered bonds and the fair value of the assets for the purpose of calculating capital requirements.

Consultation process

Comments can be sent to the EBA by clicking on the "send your comments" button on the consultation page. Please note that the deadline for the submission of comments is 1 September 2013.

All contributions received will be published following the close of the consultation, unless requested otherwise.

A public hearing will take place at the EBA premises on 6 August 2013 from 10:00 to 11:00 hours UK time.

Legal basis

The proposed draft RTS have been developed on the basis of Regulation 575/2013 of 26 June 2013. The EBA is expected to submit these draft RTS to the European Commission for endorsement by 30 September 2013. Before submission to the Commission, the EBA will review the draft RTS to include the feedback arising from the consultation process.