Economic Secretary to the Treasury and City Minister Kitty Ussher today announced the intention to implement the new UK covered bonds regime on 6 March 2008. This revised timetable will allow for further engagement with stakeholders following earlier consultation.
HM Treasury and the FSA have been considering proposals for the development of a UK covered bonds regime compliant with the UCITS Directive. Compliance will create a level-playing field for UK covered bonds in the EU and enable UK issuers to access the larger investor base of the €1.8 trillion European covered bonds market.
A summary of responses and revised Regulation will be published for comment on the Treasury and FSA websites in January 2008.
Press release
© Graham Bishop
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