Changes to regulations and guidelines on reporting of mortgage bank operations enter into force on 30 June 2023
Contents of the reform
The amendments to the regulations and guidelines implement the following:
- Chapter 2 Legal framework and international recommendations
- A new Act related to the topic of the regulations and guidelines and an associated Directive issued after the entry into force of the current set of regulations and guidelines were added to the chapter.
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- Chapter 4.1 Submission of information for supervisory purposes
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- The chapter was adjusted to reflect the new the reporting channel. More information about the new reporting channel is available on the Financial Supervisory Authority's website.
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- Chapter 4.2 Report of mortgage bank operations
- Paragraph (14) in this chapter was amended to limit the scope of application of the KP2 form, and paragraph (13) addressing applicable law was introduced.
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- Chapter 4.2.6 Information provided under the MBCBA
- Information to fulfil reporting requirements by cover pool in accordance with the new Act on Mortgage Credit Banks and Covered Bonds 151/2022 (MCBCBA) is collected in new forms KP3 and KP4. In addition to the basic information on cover pools (sections 38(2)–38(5) of the MCBCBA) the new form KP3 collects information on assets used to cover the liquidity requirement (section 18 of the MCBCBA 18), on exposures to credit institutions in the cover pool (Article 129(1a) of the CRR) and on the liquidity requirement of the cover pool (sections 38(6) and 31 of the MCBCBA). The new form KP4 collects information on covered bonds issued (sections 38(1) and 38(7) of the MCBCBA).
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- Chapter 5 Revision history
- Chapter 5 is a new chapter containing descriptions of amendments made to the regulations and guidelines.
Entry into force of the amendments to the regulations and guidelines
The regulations and guidelines will enter into force on 30 June 2023.
Opinions received
A feedback statement has been made on comments received regarding the regulations and guidelines. The feedback statement and opinions received are available on the Lausuntopalvelu.fi website.
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