EBA · 2022_6508 Final Q&A

Template 10: Other climate change mitigating actions - Covered bonds

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
449a
Topic
Transparency and Pillar 3
Submitted by
Industry association
Submitted
2022-07-01
Answered
2022-11-25
Answer provided by
ESAs (EBA, ESMA, EIOPA)
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Question

Is it correct that a covered bond will be classified as a bond with a credit institution (financial corporation) as counterparty?

Background

We would like to be sure how to classify covered bonds.

Answer

According to Article 3 (1) of the Directive (EU) 2019/2162 covered bonds are debt obligations issued by credit institutions. Therefore, provided they are eligible for disclosure in Template 10: Other climate change mitigating actions that are mot covered in the EU Taxonomy of Annex XXXIX to the Final draft implementing technical standards on prudential disclosures on ESG risks in accordance with 449a CRR, they should be disclosed under ' Financial corporations' type of counterparty (row ' Bonds').

Original source: European Banking Authority, Q&A ID 2022_6508

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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