Legal Alert Covered Bonds

On 9 March the Ministry of Justice launched the internet consultation for the legislative proposal implementing the EU Covered Bond Directive (Directive (EU) 2019/2162), which can be accessed here. The draft legislative proposal – as expected – does not impact existing covered bond legislation or current practice in a major way in the Netherlands. However, the proposal does leave room for further regulatory standards in respect of soft bullet and conditional pass-through covered bond programmes which could be of relevance in the future for these programmes.