Examples of Covered Bonds Act in a sentence
The Covered Bonds Act shall be applied to the issue of covered bonds by a credit institution.
The Covered Bonds are covered in accordance with Polish Covered Bonds Act and rank pari passu with all other unsubordinated present and future obligations of the Bank which have the same status as the Covered Bonds under the Polish Covered Bonds Act.
This is achieved by Section 16 of the Covered Bonds Act, which provides that (a) the total value of cover pool assets must always exceed the aggregate outstanding principal amount of the covered bonds and (b) the net present value of cover pool assets must always be at least 2 per cent.
The Covered Bonds are covered in accordance with the Polish Covered Bonds Act and rank pari passu with all other unsubordinated present and future obligations of the Bank which have the same status as the Covered Bonds under the Polish Covered Bonds Act.
This Note is one of a Series (as defined below) of medium term notes or covered bonds under the Finnish Covered Bonds Act (Laki kiinnitysluottopankkitoiminnasta 688/2010) (the CBA), as specified in the applicable Final Terms (as defined below).
RT I, 26.06.2017, 1 – entry into force 06.07.2017](1) Securities registered in the securities register or a securities account, except for the securities account specified in clause 3 of subsection 2 of § 21 of the Covered Bonds Act and the securities entered in the covered bond collateral register, are frozen on the basis of a bankruptcy ruling.
Section 13A(3) of the Banking Act 1959, and paragraph 7 of APS 120 - Securitisation, would need to be amended to enable the issue of Covered Bonds in accordance with the Covered Bonds Act.
The Covered Bonds Act will specifically regulate the rights of the holders of Covered Bonds.
The Covered Bonds Act would allow any ADI authorised under the Banking Act 1959 to issue Covered Bonds.
Licensing requirements The Covered Bonds Act, which will be administered by APRA, will include requirements and criteria which must be met by an ADI before it can issue Covered Bonds, including that the ADI has been licensed by APRA to do so.