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Regulation (EU) 2023/2631 of the European Parliament and of the Council of 22 November 2023 on European Green Bonds and optional disclosures for bonds marketed as environmentally sustainable and for sustainability-linked bonds (Text with EEA relevance) article 16 CELEX: 02023R2631-20240109 Application of the designation ‘European Green Bond’ or ‘EuGB’ to securitisation bonds
1. In the case of a securitisation bond designated as ‘European Green Bond’ or ‘EuGB’: (a) references in this Regulation to ‘issuer’ shall be construed as references to ‘originator’; (b) references in Article 4 to ‘proceeds’ shall be construed as references to the proceeds obtained by the originator from selling the securitised exposures to the SSPE. 2. By way of derogation from paragraph 1, point (a), references to ‘issuer’ in Articles 9 and 15, Article 44(3), Article 45(1), Article 48 and Article 49(1) shall be construed as references to ‘originator’ or to ‘SSPE’ and references to ‘issuer’ in Article 14(1) and Article 44(1) shall be construed as references to ‘SSPE’. |
Regulation (EU) 2023/2631 of the European Parliament and of the Council of 22 November 2023 on European Green Bonds and optional disclosures for bonds marketed as environmentally sustainable and for sustainability-linked bonds (Text with EEA relevance) article 16 CELEX: 02023R2631-20240109 3. Where the securitised exposures are created by multiple originators, the following shall apply: (a) the requirements for the use of proceeds set out in Articles 4 to 8 shall be fulfilled by each originator on a pro rata basis, with reference to its share in the pool of the securitised exposures; (b) the requirements set out in Articles 10, 11, 12, 15, 18 and 19 shall be fulfilled by the originators jointly, clearly indicating the extent to which each originator has complied with its respective requirements; (c) the requirements to obtain an external review set out in Articles 10 and 11 shall be fulfilled by the originators jointly; (d) where multiple originators decide to seek an impact report review referred to in Article 12(3), they shall jointly comply with the requirements thereof. |