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Directive (EU) 2019/2162 of the European Parliament and of the Council of 27 November 2019 on the issue of covered bonds and covered bond public supervision and amending Directives 2009/65/EC and 2014/59/EU (Text with EEA relevance) · European Union

Member States shall ensure investor protection by allowing derivative contracts to be included in the cover pool only where at least the following requirements are met: the derivative contracts are included in the cover pool exclusively for risk hedging purposes, their volume is adjusted in the case of a reduction in the hedged risk and they are removed when the hedged risk ceases to exist; the derivative contracts are sufficiently documented; the derivative contracts are segregated in accordance with Article 12; the derivative contracts cannot be terminated upon the insolvency or resolution of the credit institution that issued the covered bonds; the derivative contracts comply with the rules laid down in accordance with paragraph 2.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-12 · Text as adopted (Official Journal); later amendments are not incorporated in this text.