Austria: Amendment of the Covered Bond Act

January 2022 – Austria – TAIYO Legal 

As of 08.07.2022 and implementing the EU Covered Bonds Directive (EU-CB-Directive), Austria’s new Covered Bond Act (PfandBG) will enter into force. The amendment is intended to increase the attractiveness of the Austrian covered bond market and eliminate distortions of competition within the EU. The regulations on covered bonds currently scattered over various national provisions (HypoBG, PfandbriefG and FBSchVG) will be unified. One of many innovations is the possibility for authorized credit institutions to now issue all forms of covered bonds. (Federal Law Gazette I No. 199/2021)

For more information on the above or in other matters, please contact TAIYO Legal, Dr. Alexander T. Scheuwimmer (

This article is based on publicly available information and given for informational purposes only. It is not intended as legal advice or as a comprehensive analysis of the matters referred to herein.

TAIYO Legal – Dr. Alexander T. Scheuwimmer Rechtsanwalts GmbH

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