rec_3

(3) It appeared from that report that only a limited number of national covered bond frameworks allow the inclusion of residential or commercial mortgage-backed securities or intra-group pooled covered bond structures. However, since some institutions rely in their business models on the use of the waiver granted by competent authorities, it is appropriate for reasons of legal certainty to allow the competent authorities to extend the waiver referred to in Article 496(1) of Regulation (EU) No 575/2013 beyond the date mentioned in that provision. Article 496(1) of Regulation (EU) No 575/2013 should therefore be amended to repeal the date mentioned in that provision, with the understanding however that the possibility for competent authorities to grant a waiver may have to be reassessed in the context of a future covered bonds framework.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-19 · Text as adopted (Official Journal); later amendments are not incorporated in this text.