Ordinance On Collateral For Loans Reported To The Registration In Connection With The Banking Institutions Issuing Covered Bonds

Original Language Title: Bekendtgørelse om sikkerhedsstillelse for lån anmeldt til tinglysning i forbindelse med pengeinstitutters udstedelse af særligt dækkede obligationer

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Overview (Table of Contents)

Annunciation of securities securities for the granting of loans in connection with the issuance of the financial institutions covered bonds 1)

Pursuing to section 152 h (s).  1, no. 5, and section 373, paragraph 1.  4, in the law of financial activities, cf. Law Order no. 376 of 22. May 2008, as amended by law no. 515 of 17. June 2008, set :

Scope

Scope

section 1. This notice lays down rules for the security to be made by financial institutions after 152 c (1).  1, no. ONE, TWO. pkt;, in the financial undertaking, in the case of loans granted on the basis of special covered bonds, when the pantheon has been reported for tingling.

Security Assignment

§ 2. For loans granted on the basis of a pawn letter reported to this thing, cf. § 152 c (3)  1, no. ONE, TWO. ., in the law of financial activities, the security of the guarantee shall guarantee the granting of the loan and the costs associated with it, including, where appropriate, if the pantheon does not end up to the end of the pawn of the bill ; priority position.

§ 3. As a security option, they can only be used in section 152 c (3).  1, no. 3-7, in the Act of Financial Services, mentioned assets.

Stk.  2. If security is provided in the form of the section 152 c (3),  1, no. 6 and 7, in the Act of financial activities mentioned assets, the security shall be included in the 15% limit, cf. however, paragraph 1  3 and 4.

Stk.  Paragraph 3. Notwithstanding paragraph 1.  2 shall guarantee a guarantee from a financial institution in accordance with Article 8 (3).  1 or 2, on mortgages and mortgage bonds, etc. are not included in the 15% limit if the warranty only covers the risk that is associated with the final tingling of the pantheletter.

Stk.  4. The loans referred to in Section 8 (3).  3, on mortgages and mortgages and so on, the Financial Authority may dispensers from the requirement that a guarantee of a financial institution should be included in the 15% limit.

section 4. The warranty declaration or other security shall be received in the financial institution at the latest at the same time as the payment of the loan. Documentation for this must be stored in the loan case.

§ 5. The value of the security, cf. section 3, which is temporarily provided for the loan, at all times at least equal to the value of the special covered debt securities issued.

Frist

§ 6. The Pension Institute shall without undue delay provide the final thing of the pawn letter.

Release of security

section 7. The Pension Foundation must be at the earliest release the security when the Foundation has received final things. pantheon without prejudice.

Penalty

Penalty

§ 8. Intireate section 2, 3, paragraph.  One-three, section 4, section 6, and section 7 is punished by fine.

Stop.  2. Companies can be imposed on them. (legal persons) punishable by the rules of Chapter 5 of the Penal Code

Entry into force

section 9. The announcement will enter into force on 1. July 2008.

Financial supervision, 26. June 2008Henrik Bjerre-Nielsen/ Jørn Andersen
Officially Notes

1) The announcement contains provisions that implement parts of Directive 2006 /48/EC of the European Parliament and of the Council of 14. June 2006, on the admission and pursuit of business as a credit institution (recast), (EU-Official Journal of the European Official Journal of the European Official Journal (EU In 177, s. 1.