Decree No. 164 / 2014 Coll.
Ordinance on the registration of the cover of mortgage bonds and the information obligations of the issuer of mortgage bonds
Valid
Effective from 01.01.2015
164
DECLARATION
of 30 July 2014
on the registration of the cover of mortgage bonds and the information obligations of the issuer of mortgage bonds
The Czech National Bank provides pursuant to § 32 paragraph 2 and § 45 paragraph 2 of Act No. 190 / 2004 Coll., on bonds, as amended by Act No. 227 / 2013 Coll.:
Subject matter
This decree regulates the content, formalities and manner of keeping records of the cover of mortgage bonds by the issuer of mortgage bonds (hereinafter referred to as the issuer) and the content and manner of fulfilling the issuer's information obligations.
Registration of cover of mortgage bonds
(1) The register of cover for mortgage bonds (hereinafter referred to as "the register") contains the cover register and the cover book.
(2) The cover register contains a list of the mortgage loans from which the resulting claims are intended to properly cover the liabilities of the mortgage liens in circulation and a list of the items of the replacement coverage of the mortgage liens in circulation.
(3) The cover book contains an overview of the amount of the mortgage bond bonds in circulation and the valuation of the assets held in the cover register.
Forms of the coverage register
(1) Information on the mortgage credit claim in the coverage register shall include at least:
(a) the unambiguous identification of the mortgage credit by indicating the contract number or account number which clearly identifies the contractual relationship between the bank and the debtor and, where appropriate, other data;
(b) a clear identification of the immovable property stopped by means of the data entered on the ownership sheet kept for the immovable property stopped by the competent cadastral office and, where appropriate, a brief description thereof, unless this results from the data entered in the real estate register; where the immovable property is situated in the territory of another Member State, the data under the applicable law of the Member State shall be used to identify the immovable property stopped;
(c) the lien value of the immovable property pledged;
(d) the valuation of the mortgage credit claim and the valuation of the part of that claim that serves as a proper cover;
(e) the valuation of the loan claim granted under the Act governing the building savings as well as the loan granted by the State Housing Development Fund under the Act on the promotion of the construction of cooperative housing or the loan for cooperative housing which is secured by a lien on the same real estate in the same or priority order and the identification of the person for whom the lien was registered; the identity of the person means the name, address and identification number of the person.
(2) Information on the replacement cover in the cover register shall include at least:
(a) a clear identification of the assets used for the replacement cover, by indicating the account number in the case of deposits or an identification number in the case of securities and, where applicable, other data;
(b) valuation of the assets used for replacement cover.
(1) The issuer may include the mortgage credit claim in the cover register if it has verified that it fulfils the conditions for the proper coverage of the mortgage bond bonds in circulation provided for by the bond law.
(2) An issuer may include a replacement cover in the cover register if it has verified that it fulfils the conditions for the replacement coverage of mortgage bond bonds in circulation laid down in the bond law.
(1) The issuer shall, without undue delay, exclude the mortgage credit claim from the coverage register if it no longer fulfils the conditions for proper coverage under the bond law.
(2) The issuer shall, without undue delay, exclude the replacement cover from the cover register if it no longer fulfils the conditions for replacement cover under the bond law.
Forms of the cover book
(1) The information on liabilities arising from mortgage bonds in circulation in the cover book shall include at least at the relevant date:
(a) the total nominal value of mortgage bonds in circulation;
(b) the total amount of the proportional return on mortgage bonds in circulation;
(c) the total amount of liabilities on mortgage bonds in circulation, expressed as the sum of the items referred to in (a) and (b).
(2) Information on proper cover or replacement cover in the cover book shall include at least at the relevant date:
(a) the valuation of each individual mortgage credit claim and the valuation of a part of that claim which serves as a proper cover;
(b) the total amount of the full coverage;
(c) the valuation of each individual replacement cover item;
(d) the total amount of the replacement cover;
(e) the total amount of the cover.
Record keeping
(1) The issuer shall keep a register in a department up to the level of the managing authority which is independent of the departments under whose jurisdiction the provision of mortgage loans or the issue of mortgage bonds and whose personnel have, for their decision on the inclusion of items in the register, the exclusion of items from the register and other activities related to the obligations under this Decree, information which is up to date, reliable and comprehensive.
(2) The issuer shall keep records either in paper form or in electronic form in a way that allows for the traceability and reconstruction of all individual acts of the issuer and keeps it up to date.
(3) The data recorded in the register and the documents relating to the mortgage credit or replacement cover are kept by the issuer for at least 10 years after their repayment; This applies even after the end of the bank licence as well as for the legal successor of the issuer.
(4) The issuer ensures the protection of data in the records and documents relating to mortgage loans or replacement cover against access and interference by unauthorised persons and from damage and the possibility of recovering the specified data and documents even if the damage occurred.
(5) The issuer is able to submit to the Czech National Bank, at the request of the Czech National Bank, documents demonstrating the validity of the inclusion of any claim on the mortgage loan or part of the claim on the mortgage loan or replacement cover in the register; in particular, the credit agreement, including any amendments, documents relating to the immovable property stopped, including the lien contract, the current extract from the property register, the setting of the lien value of the immovable property stopped, the rules for determining the lien value of the immovable property stopped and the documents relating to each replacement item and each issue of mortgage certificates.
(1) The issuer keeps records in Czech currency. For the conversion of foreign currency data into Czech currency, the foreign exchange market rate declared by the Czech National Bank for the relevant day and for data in currencies for which the Czech National Bank does not declare foreign exchange market rates shall be used, as per the Act governing accounting.
(2) The issuer appreciates, for the purposes of accounting, assets used for proper cover or replacement cover in the same way as in accounting and financial statements.
Information obligation
The issuer submits data to the Czech National Bank on the coverage of mortgage mortgage bonds, on the issued and planned issues of mortgage bonds, on mortgage loans and on the pledge value of the immovable property. The procedure for submitting information is laid down in the Order on the submission of statements by banks and branches of foreign banks to the Czech National Bank.
Efficacy
This Decree shall enter into force on 1 January 2015.
Governor:
Ing. Singer, Ph.D., v. r.
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Regulation Information
| Citation | Decree No. 164 / 2014 Coll., on the registration of the cover of mortgage bonds and information obligations of the issuer of mortgage bonds |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 07.08.2014 |
|---|---|
| Effective from | 01.01.2015 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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