Exclusive: Belgian covered bond law expected in November

Author: | Published: 6 Sep 2011

Belgium’s long-overdue covered bond legislation is due by the end of November, according to a lawyer who helped with its drafting.

Ivan Peeters of Stibbe in Brussels told IFLR that the banking sector, regulator and law firms have been working on the draft legislation and royal decree for two years, so the process is at an advanced stage.

There was a wider consultation earlier in 2011 and the results are with the National Bank of Belgium for final approval. There is also agreement between the Belgian banks and the regulators that covered bonds are a positive step.

"The key thing that is missing is a government," said Peeters.

Belgium has set the record for the time taken to form a new democratic government after an...