+Article 6 4.

Article 6 4.

For the purposes of point (c) of paragraph 1, covered bonds secured by loans to or guaranteed by public undertakings as primary assets shall be subject to a minimum level of 10 % of overcollateralisation and subject to all the following conditions:

(a) 

the public undertakings provide essential public services on the basis of a licence, a concession contract or other form of entrustment granted by a public authority;

(b) 

the public undertakings are subject to public supervision;

(c) 

the public undertakings have sufficient revenue generating powers, which are ensured by the fact of such public undertakings:

(i) 

having adequate flexibility to collect and to increase fees, charges and receivables for the service provided in order to ensure their financial soundness and solvability;

(ii) 

receiving sufficient grants on a statutory basis in order to ensure their financial soundness and solvability in exchange for providing essential public services; or

(iii) 

having entered into a profit and loss transfer agreement with a public authority.

1. Przegląd

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1.1 Odwołania

1.2 Zidentyfikowane wymagania

1.3 Powiązane normy

2. Zidentyfikowane wymagania

Wymagania

3. Powiązane normy

Normy