Banking Act 1959
Part II
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Provisions relating to the carrying on of banking business
Division 3A
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Covered bonds
SECTION 28
28
Restrictions on issuing covered bonds
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8% rule
An ADI must not issue a covered bond if the combined value of assets in cover pools securing covered bonds issued by the ADI would exceed 8%, or such other percentage as is prescribed by the regulations, of the value of the ADI ' s assets in Australia.
View history note
Hide history noteAn ADI must not issue a covered bond if the combined value of assets in cover pools securing covered bonds issued by the ADI would exceed 8%, or such other percentage as is prescribed by the regulations, of the value of the ADI ' s assets in Australia.
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