Directive No 2019/2162/EU of the European Parliament and of the Council of 27 November 2019 on the issue of covered bonds and covered bond public supervision and amending Directives No 2009/65/EC and No 2014/59/EU (the so-called “Covered Bonds Directive”) introduces two European labels for covered bonds. The first label, "European covered bond", is intended for covered bonds meeting the requirements laid down in national law transposing the Directive, and the second label, "European covered bond (Premium)", targets covered bonds that meet both the requirements laid down in national law transposing the Directive and those set out in Article 129 of Regulation No 575/2013/EU of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and amending Regulation No 648/2012/EU (the so-called “CRR”) and under which covered bonds may benefit from preferential prudential treatment. The ACPR is responsible for monitoring and granting these labels and is required to publish on its website the list of covered bonds for which the use of such labels has been granted.

It should be reiterated that, where these labels are granted by the ACPR, the issuers of labelled covered bonds are solely responsible for the information provided for the purposes of identifying the covered bonds issued without an international securities identification number ("ISIN code") and that ACPR cannot be held liable.