The Law improves regulation of the mortgage bonds market, sets the requirements for the calculation of the mortgage pool rate, activity of the trustee, and obligatory terms of the agreement on the mortgage pool administration. It facilitates proper fulfillment of emitter´s mortgage commitments, and enhances performance of trustee´s functions in the mortgage pool administration.
The Law specifies the principle of balance between the mortgage pool and arrears in the common mortgage bonds, whereby the rate of return of mortgage pool shall exceed the rate of emitter´s periodical payment towards the payment of interest by the common mortgage bonds in every interest period.
The draft is registered under Reg. No. 7107.
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