The legal basis for Covered Bond issues is art. 91 of Law 3601/2007, as in force (the Covered Bonds Law). Pursuant to this Law, secondary legislation has been enacted to set out the regulatory framework with respect to the issuance of covered bonds, notably Bank of Greece Act nr. 2620/28.8.2009 (the Secondary Legislation). The Covered Bond Law supersedes general provisions of law contained in the Civil Code, the Code of Civil Procedure and the Bankruptcy Code. The Greek Covered Bonds laws and regulations have been enacted, with a view, inter alia, to complying with the standards of article 22(4) of Directive 85/611/EEC (UCITS).
Covered Bond Programme Ratings
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