Market initiatives

Covered Bond Directive: Implementation


Further to the adoption by the European Parliament in April 2019 of the European Commission’s proposal on a Covered Bond Legislative Package (which includes the Covered Bond Directive and a Regulation amending the Capital Requirements Regulation (CRR) regarding the exposures in the form of covered bonds), the EMF-ECBC has sought to take a lead in providing the Industry with a dedicated arena in which market participants are able to access relevant information and share views and experiences, as well as best practices, in seeking to support national legislators in implementing the provisions of the Directive with a European view to reinforce the status of covered bonds as a fundamental European and increasingly global asset class for the real economy.

To this end, the ECBC has established the Implementation Task Force which meets on a regular basis to allow members to share their thoughts on the implementation process and seek input from relevant European and national authorities, invited as guests on an ad-hoc basis, on how best to address specific issues which have arisen or may arise during this exercise.

With a view to ensuring maximum transparency in the Task Force’s work and offer access to relevant information to all market stakeholders, this page will be used to host relevant background materials presented during the Task Force’s discussions. Please refer to the Resources section of this page for such materials. This page will be updated on a regular basis as the implementation process moves forward.

Should you have any questions relating to the work of the ECBC Implementation Task Force or the implementation process in general, please contact the Secretariat at



ECBC General Ppresentation of the CB Directive's Implementation

Danish FSA Presentation on CB Directive Implementation 11.12.20

vdp Presentation on CB Directive Implementation in Germany 11.12.20

Finance Norway Presentation on CB Directive Implementation in Norway 11.12.20