RCB 3 Notifications

The issuer must send to the FCA annual written confirmation of compliance with Regulations 16 (sums derived from the issue of regulated covered bonds) and 17 (general requirements on the issuer in relation to the asset pool) of the RCB Regulations in the form set out in RCB 3 Annex 1D (annual confirmation of compliance).

Before providing the confirmation required by this section, the issuer must obtain and consider written advice or reports from suitable independent third parties such as the asset pool monitor and, where appropriate, lawyers.

The issuer must provide a copy of the asset pool monitor's report to the FCA when it sends the confirmation required by this section to the FCA.

1. (1)

   The first confirmation date in relation to the annual confirmation must be the earlier of any date the issuer selects, or the date 12 months from the registration date.

2. (2)

   Subsequent confirmations must be made:

   1. (a)

      on the anniversary of the first confirmation date, or

   2. (b)

      on a later date, where agreed by the FCA before that date.

The issuer must send each confirmation to the FCA within one month after the relevant confirmation date.

The first confirmation must cover compliance during the period from the registration date up to the confirmation date referred to in RCB 3.2.5 D (1).

Subsequent confirmations must cover compliance for the period from the last confirmation date to the date of the current confirmation.

The issuer must ensure that a director or a senior manager signs the annual confirmation and confirms on the FCA's form that the issuer has obtained the appropriate third party advice or reports required by this section.

If the issuer is in insolvency, the owner must send the FCA under RCB 3.2.1 D:

1. (1)

   a confirmation of compliance within one month of the date of insolvency; and

2. (2)

   annual confirmations by the same dates as the date the confirmations under RCB 3.2.5 D are due.

1. (1)

   The owner must ensure that a duly authorised representative signs the confirmation and confirms on the FCA's form that the owner has obtained the appropriate third party advice or reports required by this section.

2. (2)

   The owner must obtain appropriate advice in the same manner as set out in RCB 3.2.2 D and must provide a copy of the asset pool monitor's report to the FCA as set out in RCB 3.2.4B D.

The issuer must send to the FCA, information relating to the asset pool, in the form set out in RCB 3 Annex 2D (asset notification form), and information relating to the regulated covered bonds issued under the programme, in the form set out in RCB 3 Annex 3 D (asset and liability profile form).

The issuer must send the asset notification form to the FCA each month following the registration date, and the asset and liability profile form to the FCA within one month of the end of each quarter following the registration date.

The issuer must send to the FCA loan-by-loan level data relating to the asset pool in the form set out in RCB 3 Annex 7A D within one month of the end of each quarter following any issuance of regulated covered bonds after 1 January 2013. Guidance on how to complete this form is set out in RCB 3 Annex 7B G.

If the issuer is in insolvency, the owner must send to the FCA the notifications set out at RCB 3.3.1 D and RCB 3.3.2A D by the same dates as the dates the notifications under those directions are due.

If the issuer or the owner (as the case may be) proposes to add or remove assets to or from the asset pool which change the level of over collateralisation by 5% or more, it must notify the FCA using the form set out in RCB 3 Annex 2 D (asset notification form) at least 5 business days prior to the proposed transfer, giving expected details of the size and composition of the transfer.

The issuer must inform the FCA of the information relating to bond issuances from a regulated covered bond in the form set out in RCB 3 Annex 4 D (indicative terms form) at least 3 business days before the date of issuance.

On the date of issuance, the issuer must send to the FCA:

1. (1)

   the information in the form set out in RCB 3 Annex 5 D (issuance form);

2. (2)

   the information in the form set out in RCB 3 Annex 3 D (asset and liability profile form); and

3. (3)

   the final terms of the regulated covered bonds or equivalent issuance documents setting out the terms of the regulated covered bonds and signed copies of swap documents.

If an owner proposes to transfer the asset pool to a new owner it must provide the FCA as a minimum with the following information in writing at least three months before the proposed transfer date:

1. (1)

   name, address and contact details of the proposed new owner;

2. (2)

   proposed transfer date and reasons for the transfer;

3. (3)

   an explanation of how the proposed new owner will comply with the requirements imposed on it by the RCB Regulations and RCB; and

4. (4)

   confirmation that the existing owner and the proposed new owner have obtained appropriate advice in relation to the proposed transfer, and details of such advice.

If an issuer proposes to make a material change to the contractual terms of a regulated covered bond, it must inform the FCA of the following information to the FCA at least 3 months before the proposed date of the change:

1. (1)

   details of the proposed change including proposed date of change and the reasons for it;

2. (2)

   an assessment of the impact of the change on the ability of the issuer and owner to continue to comply with their requirements under the RCB Regulations and RCB; and

3. (3)

   confirmation that the issuer has obtained appropriate advice in relation to the proposed change and details of such advice.

The issuer or the owner, as the case may be, must notify the FCA immediately, in writing by e-mail or hand-delivered letter, if Regulation 18(2), or 24(1)(c) of the RCB Regulations (obligation to inform FCA if asset pool not capable, or not likely to be capable of covering claims) is triggered.

The issuer or the owner, as the case may be, must notify the FCA immediately in writing by e-mail, or hand-delivered letter, if requirements relating to the relevant regulated covered bond under the RCB Regulations or RCB are, or are likely to be, materially breached, or of any other matter which the FCA should be made aware of.

The issuer must notify the FCA if it proposes to cancel in full or in part a regulated covered bond or programme at least 3 business days before the cancellation will take effect.

The issuer must send to the FCA the information in the form set out in RCB 3 Annex 6 D and an updated asset and liability profile form (RCB 3 Annex 3 D) on the date of cancellation of the regulated covered bond or programme.

The issuer must publish the asset notification form sent to the FCA under RCB 3.3.1 D.

The issuer must publish the information relating to the individual loan assets in the asset pool in the form set out in RCB 3 Annex 7A D (loan level disclosure) within one month of the end of each quarter following any issuance of regulated covered bonds after 1 January 2013.

The issuer must publish the transaction documents (excluding legal opinions) relating to the regulated covered bond or programme.

If the issuer is in insolvency, the owner must publish the information set out at RCB 3.5.11 D and RCB 3.5.12 D in accordance with those directions.

Unless otherwise stated, the issuer or the owner, as the case may be, must send the relevant forms and information to theFCA marked for the attention of the "Regulated Covered Bonds Team" by email to rcb@fca.org.uk:

1. (1)

   [deleted]

2. (2)

   [deleted]

3. (3)

   [deleted]

This annex consists only of one or more forms. Forms are to be found through the following address:

result matched startAnnual confirmation of compliance with the RCB Regulations and the RCB Sourcebookresult matched end - RCB_03_ann_01_20230630.pdf

This annex consists only of one or more forms. Forms are to be found through the following address:

result matched startAsset pool notification formresult matched end - RCB_03_ann_02_20230630.xlsx

This annex consists only of one or more forms. Forms are to be found through the following address:

result matched startAsset and liability profile formresult matched end- RCB_03_ann_03_20230630.xlsx

This annex consists only of one or more forms. Forms are to be found through the following address:

result matched startIndicative terms formresult matched end- Forms/rcb/RCB_03_ann_04_20230630.xls

This annex consists only of one or more forms. Forms are to be found through the following address:

result matched startIssuance formresult matched end- Forms/rcb/RCB_03_ann_05_20230630.xls

This annex consists only of one or more forms. Forms are to be found through the following address:

result matched startCancellation formresult matched end- RCB_03_ann_06_20230630.xls

This annex consists only of one or more forms. Forms are to be found through the following address:

result matched startLoan level disclosure formresult matched end- RCB_03_ann_07A_20230630.xls