Central bank says regulatory framework of mortgage-covered bond noted for EU compliance

The National Bank of Georgia on Thursday said an annual publication of the European Covered Bond Council had confirmed the compliance to European Union legislation of the country’s regulatory framework of mortgage-covered bonds, Azernews reports, citing Agenda.

The publication, which was prepared with the involvement of experts from the European Bank for Reconstruction and Development, positively reviewed the law on mortgage-backed bonds adopted by the Parliament of Georgia in 2022, as well as the regulatory rule on mortgage-backed bonds approved by the National Bank in 2023”, the Bank said.

The central bank also said it was invited to a meeting of a working group of European supervisors of mortgage bonds, hosted earlier this month in Austria and organised by the association of commercial banks issuing German mortgage bonds.