Read the untranslated law here: https://www.vestnesis.lv/ta/id/156617
Financial and capital market Commission Regulation No 58, Riga 2007 26 April (pr. Nr. 18, 3. p.)
Coverage of mortgage bonds Issued by the registry in accordance with the rules of mortgage bonds Act article 11, second part i. General questions 1. determine mortgage bonds (hereinafter mortgages) cover the type of registry entries that record the content and reasoning.
2. The rules are binding on all the banks under the mortgage bonds Act (hereinafter Act) issued debentures.
3. the Bank, issuing mortgages, before bonds emission creates bonds cover the register (hereinafter register) according to the requirements of this regulation.
4. the Bank shall keep a register to ensure the registry information in electronic form for the submission of financial and capital market Commission, at its request.
5. Mortgage loans or loans secured by the State and local governments of Latvia guarantees, and other statutory assets serving as coverage of bonds, the bank shall be entered in the register before the bonds emission.
6. Assets constituting the bonds coverage, inclusion in or exclusion from the register it is made based on the bonds of the cover registry management rules.
7. for each mortgaged real estate rule 11 the information specified in paragraph (hereinafter information) shall be entered in the register only once. If the real estate is pledged to register multiple mortgage loans included in the security register, provide information on any such loan.
8. If the mortgage loan collateral pledged more real estate, the register shall indicate the information about each of the mortgaged real estate.
9. If the mortgaged real estate in the land have been secured earlier recorded in the register of claims indicates the total amount of the claim.
10. If the assets are in bonds in the cover is provisioned does not secure debts, assets sensing in the register, except these stocks.
II. Registry entry contains 11. Depending on the type of cover bonds, the register must contain at least the following: 11.1. mortgage loan contract number and date, the amount of the loan granted to the interest rate. This entry is based on the mortgage loan contract and the Land Registry Act;
11.2. the mortgaged real estate market values, property appraiser's name, social security number, license real estate market value of number and the professional qualification certificate number or the real estate valuation company name, registration number and license real estate valuation number. This entry shall be made on the basis of the assessment of real property;
11.3. the mortgage loan outstanding amount. This entry is based on the books of the bank of the borrower the loan principal and interest payments;
11.4. the percentage of mortgage loan amounts outstanding ratio of security – real estate – market value;
11.5. real estate transfer date and the value of its loan agreement date and number based on that real property, and the value of this property coverage, if on the cover uses real estate taken over by the bank in its possession in accordance with the law in the first part of article 10. This entry shall be made on the basis of the Land Act and the real property assessment document;
11.6. the 11.1-11.4. entries defined in point and the date and number of the contract, on the basis of which obtained mortgage if the mortgage is used on the cover that the bank has taken under the second subparagraph of article 10;
7.3. the bank account number in the Bank of Latvia or another Member State of the European Union central bank or cash journal entry number, and the amount of funds that are being used as a cover, if coverage is money. This entry shall be made on the basis of the account statement or in the log;
11.8. the issuer's name, the account holder's name, account number, ISIN code worth of paper, to the nominal value of the securities market, the quantity, the price, the amount to be included in the coverage and ratings of securities, if the coverage is of Latvia or another Member State of the European Union securities or securities for which a given State of Latvia or another Member State of the European Union, as well as guarantee the securities issued by financial institutions. This entry shall be made on the basis of the securities account statement;
7.4. rule 11.1., 11.3., and laid down in point 11.4. records and issuing the guarantee institution name, issue date and amount, if coverage is a loan that is secured by the State or local government. This entry shall be made on the basis of the loan agreement and the Latvian National or municipal guarantee certificate;
11.10. the issuer's name, the account holder's name, account number, ISIN code of securities, to the nominal value of the securities, the market price, the amount to be included in the coverage and ratings of securities, if the cover is another of the issuer of mortgage bonds, which are admitted to trading on a regulated markets of the European Union.
III. final question 12. Be declared unenforceable in the financial and capital market Commission 23.11.2001. Regulation No 20/4 "mortgage bonds cover terms of the register".
Financial and capital market Commission President When the U.
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