The Moroccan government announced, on February 24, 2022, the adoption of a bill relating to covered bonds (SO). The text aims to set the legal regime applicable to these bonds issued by approved credit institutions. “SOs are bonds issued by banks and whose holders benefit in particular from the guarantee consisting of a basket of receivables from mortgage bank loans or receivables from loans to local authorities, hereinfollowing ‘hedging basket’. The issuance of OSs is limited to banks only and subject to specific authorization from Bank Al-Maghrib (BAM)”, indicates a note from
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