International Presence and Activities
SLOVAK CB LEGISLATION AT A GLANCE
THE COVERED BOND PROGRAMME MONITOR
→ Is an independent individual appointed (and revoked) by the NBS, acting on its own initiative or
on the proposal of the issuer
→ Before issuance of CB, Programme Monitor:
verifies that assets that are going to be added to the cover pool fulfill eligibility requirements
issues a written certificate confirming that covered bonds are covered and that an entry in the Covered Bond
Register has been made
verifies issuer's compliance with all legal and regulatory requirements with regard to covered bonds
→ At least once a month checks:
Cover assets consistency with regulatory requirements
Whether requirements in relation to the Covered Bond Register are met
By 30 April of each year submits to NBS a report on previous year containing, inter alia, information
about
issues of CB (number, volume, issue proceeds)
cover pool (both composition and assets characteristics)
reasons for material changes in replenishing, or elimination of assets from the cover pool
estimated liabilities & stress tests calculation
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