The National Bank of Georgia held an online presentation of the draft law of Georgia on Covered Bonds.
The purpose of the meeting was to share with market participants the experience of international markets related to the introduction and development of covered bond instruments and to present the business model, supervisory and legislative approaches developed for Georgia.
The purpose of the draft law is to increase commercial bank access to diversified sources of funding and to help the development of the covered bond market in Georgia.
According to the NBG, following the keynote speech by Archil Mestvirishvili, Vice Governor of the National Bank of Georgia, presentations were made by representatives of international financial institutions (EBRD, IFC) who were actively involved in the development of the framework. Other speakers included the representatives of the National Bank's securities market and banking supervision functions.
