Disclosure requirement for mortgage credit bank operations

On the basis of section 9 of the Act on Mortgage Credit Banks and Covered Bonds (151/2022, hereinafter “MCB Act”), the Financial Supervisory Authority (FIN-FSA) must publish information on the regulations in force in Finland regarding covered bonds, on the credit institutions authorised to engage in mortgage credit bank operations, and on the covered bonds issued by them.

Regulations in force in Finland regarding covered bonds

Legislation
Act on Mortgage Credit Banks and Covered Bonds (151/2022) (in Finnish)
Act on Mortgage Credit Banks (688/2010) (in Finnish and to be applied in accordance with section 51 of the MCB Act)

FIN-FSA’s regulations and guidelines
Mortgage bank authorisation procedure and risk management (MOK 6/2012)
Reporting of mortgage bank operations (MOK 7/2012)

Credit institutions authorised to engage in mortgage credit bank operations

Covered bonds issued by mortgage banks and credit institutions

Pursuant to section 37 of the MCB Act, the issuer may use the label European Covered Bond (Premium) and its language versions translated into the official languages of the European Union only for covered bonds issued in accordance with the MCB Act

Based on the above, all covered bonds issued under the MCB Act meet the conditions for using the label European Covered Bond (Premium).