14 March 2019
On 13th of March, the Ministries of Finance of Estonia, Latvia and Lithuania commenced a joint public consultation on the Interim Report of Introduction of Pan-Baltic Covered Bond Legal and Regulatory framework (The Interim Report). The Interim Report, prepared in cooperation within the European Bank for Reconstruction and Development (EBRD), reflects views of experts of the Ministries of Finance of Estonia, Latvia and Lithuania.
The Interim Report aims at presenting concrete solutions on what the Pan-Baltic covered bonds can look like and what are still legal, regulatory and operational issues that have to be tackled.
As for the background, the aim of this work is for the three Baltics States to adopt covered bond laws that would be as similar as possible and that would facilitate the issuance of covered bonds with underlying assets from one, two or three of the Baltic States.