23. Institutions should ensure that they obtain the legal opinion or opinions in accordance with …

Institutions should ensure that they obtain the legal opinion or opinions in accordance with paragraph 20, confirming that the collateral arrangement under which the other physical collateral is provided is legally effective and enforceable at least in the following jurisdictions:

• (a) the jurisdiction whose law governs the collateral arrangement;
• (b) if a public register for the type of collateral exists, the jurisdiction where the collateral is registered; otherwise, the jurisdiction in which the owner of the collateral is incorporated or the place of residence if the owner of the collateral is a natural person;
• (c) if considered relevant for a given collateral, the jurisdictions in which the institution and the obligor are incorporated; in any case, if the obligor is a natural person, the jurisdiction of his or her place of residence;
• (d) the jurisdiction where it is most likely that the realisation of the collateral would be carried out should this be necessary;
• (e) any other jurisdiction, if considered relevant for a given collateral.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA -

  EN: Guidelines and other publications of the European Banking Authority (EBA), https://www.eba.europa.eu/. © European Banking Authority. Reproduction is authorised provided the source is acknowledged (EBA legal notice). Divided into sections and converted into the GRCA format, the wording unchanged. Only the versions published by the EBA are authoritative.

  DE: Leitlinien und weitere Veröffentlichungen der Europäischen Bankenaufsichtsbehörde (EBA), https://www.eba.europa.eu/. © European Banking Authority. Wiedergabe mit Quellenangabe gestattet (Rechtlicher Hinweis der EBA). In Abschnitte aufgeteilt und in das GRCA-Format umgewandelt, der Wortlaut unverändert. Maßgeblich sind allein die von der EBA veröffentlichten Fassungen.