Central bank says regulatory framework of mortgage-covered bond noted for EU compliance
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The National Bank of Georgia on Thursday said an annual publication of the European Covered Bond Council had confirmed the compliance to European Union legislation of the country’s regulatory framework of mortgage-covered bonds.
The publication, which was prepared with the involvement of experts from the European Bank for Reconstruction and Development, positively reviewed the law on mortgage-backed bonds adopted by the Parliament of Georgia in 2022, as well as the regulatory rule on mortgage-backed bonds approved by the National Bank in 2023”, the Bank said.
The central bank also said it was invited to a meeting of a working group of European supervisors of mortgage bonds, hosted earlier this month in Austria and organised by the association of commercial banks issuing German mortgage bonds.
Natia Turnava, the Acting Governor of the National Bank of Georgia, on Wednesday said individuals would be able to take out loans of “any amount” in the currency of their income with the existing ₾200,000 ($74,358) limit set to be removed starting January 1, 2024.
The Financial Stability Committee of the National Bank of Georgia made a number of decisions on Wednesday in order to “further mitigate the risks of dollarisation” and increase the maximum maturity of unsecured consumer loans.
Natia Turnava, the Acting Governor of the National Bank of Georgia, on Tuesday met heads of the Banking Association of Georgia and commercial banks operating in the country to discuss challenges in the financial sector and future plans.
Natia Turnava, the Acting President of the National Bank of Georgia, on Friday met representatives from local commercial banks to discuss cooperation for ensuring more resource investment in the domestic economy and ensuring access to finance for bank customers.