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Safe Bank

Published: 2024-06-14

Dematerialization of covered bondsin the context of regulatory changes

Jan Szczygieł Logo ORCID
Section: Problems and Opinions
https://doi.org/10.26354/bb.5.1.94.2024

Abstract

The article presents issues related to the functioning of dematerialized covered bonds on financial markets. The article discusses not only the forms of functioning of covered bonds as securities, but also the role played by the dematerialization of covered bonds in the functio- ning of the securities market. The ongoing technological changes, especially in the context of the development of blockchain technology, prompt discussion on the future form of functio- ning of covered bonds in trade, and especially the possibility of their tokenization. The issues discussed in the article have not yet been comprehensively treated in the literature. The basic research goal was to demonstrate that the dematerialization of covered bonds has a positive impact on the flexibility of the issuance of these securities. Secondly, dematerialization is a safe solution for the incorporation of securities, but not completely without risks. Thirdly, and finally, although it seems technologically possible to issue covered bonds as part of toke- nization, this change requires the introduction of systemic regulatory changes. The article uses the dogmatic-legal method. Its subject was the analysis of legal provisions and their interpretation. This method made it possible to determine the applicable regula- tions in the discussed area and to notice the ongoing regulatory changes in the context of the form of functioning of covered bonds as securities.

JEL Codes

K10, G21

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Citation rules

Szczygieł, J. (2024). Dematerialization of covered bondsin the context of regulatory changes. Safe Bank, 94(1), 80–90. https://doi.org/10.26354/bb.5.1.94.2024

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Vol. 94 No. 1 (2024)
Published: 2024-06-17


ISSN: 1429-2939
eISSN: 2544-7068
Ikona DOI 10.26354

Publisher
Bankowy Fundusz Gwarancyjny

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