Nord/LB Lux’s LCR status to be grandfathered

By Bill Thornhill
29 Oct 2020

Covered bonds issued by NordLB’s Luxembourg subsidiary are set to become ineligible for the liquidity coverage ratio from July 2022, according to a draft amendment published this week by the European Commission.

The draft amendments published on Tuesday were broadly in line with those set out by an expert working group at the end of July, but spelled bad news for deals issued by Nord/LB Luxembourg.

In essence, issuers will now be able to count the same 30 day liquidity held ...

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