As of 08.07.2022 and implementing the EU Covered Bonds Directive (EU-CB-Directive), Austria’s new Covered Bond Act (PfandBG) will enter into force. The amendment is intended to increase the attractiveness of the Austrian covered bond market and eliminate distortions of competition within the EU. The regulations on covered bonds currently scattered over various national provisions (HypoBG, PfandbriefG and FBSchVG) will be unified. One of many innovations is the possibility for authorized credit institutions to now issue all forms of covered bonds. (Federal Law Gazette I No. 199/2021)
Amendment of the Covered Bond Act
