UK Government to implement covered bonds regime in March 2008

08 November 2007

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