A draft bill (7822/00) relating to the issuance of covered bonds was recently deposited to implement EU Directive 2019/2162/EU into Luxembourg law.
The draft bill introduces several innovations. Notably, it introduces a product-centric approach to the issuance of covered bonds by allowing all Luxembourg credit institutions to issue such covered bonds within certain limits.
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This article was originally published in the Banking & Financial Services Newsletter of the International Law Office.