+Article 11 1.

Article 11 1.

Member States shall ensure investor protection by allowing derivative contracts to be included in the cover pool only where at least the following requirements are met:

(a) 

the derivative contracts are included in the cover pool exclusively for risk hedging purposes, their volume is adjusted in the case of a reduction in the hedged risk and they are removed when the hedged risk ceases to exist;

(b) 

the derivative contracts are sufficiently documented;

(c) 

the derivative contracts are segregated in accordance with Article 12;

(d) 

the derivative contracts cannot be terminated upon the insolvency or resolution of the credit institution that issued the covered bonds;

(e) 

the derivative contracts comply with the rules laid down in accordance with paragraph 2.

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