2.

Member States may apply paragraph 1 to tap issues of covered bonds for which the opening of the ISIN is before 8 July 2022 for up to 24 months after that date, provided that those issues comply with all the following requirements: the maturity date of the covered bond is before 8 July 2027; the total issue size of tap issues made after 8 July 2022 does not exceed twice the total issue size of the covered bonds outstanding on that date; the total issue size of the covered bond at maturity does not exceed EUR 6000000000 or the equivalent amount in domestic currency; the collateral assets are located in the Member State that applies paragraph 1 to tap issues of covered bonds.

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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.