vdp Member Institutions support Development at European Level and increase Transparancy

Sascha Kullig an Swen Prilla

Transparency requirements for covered bonds come from many different quarters. From a regulatory perspective, the issue of transparency is gaining importance in the context of discussions on harmonisation of the covered bond regime within the framework of the EU Capital Markets Union. Up to now, transparency disclosure requirements have varied considerably between the different covered bond jurisdictions in terms of their legal basis, content and level of detail required, and the frequency of disclosures. It thus comes as no surprise that the European Commission is also addressing transparency in a consultation paper on covered bond harmonisation.