a) The requirement to maintain a cover asset register, where all the assets included in the
cover pool are to be recorded, in order to separate them from any other assets on the
issuer’s balance sheet;
b) The requirement that interest and principal payment obligations attached to the covered
bonds do not ‘accelerate’ upon default of the issuer; i.e. they continue to be fulfilled in
accordance with the contractual schedules to the extent possible.
c) The requirement that a special administrator of the covered bond programme be appointed
upon default of the issuer, tasked with ensuring that all obligations towards covered bond
investors are duly fulfilled