On October 5, 2015 the European Banking Authority (EBA) published an opinion on mortgage lending value (MLV). The EBA has the mandate to develop the draft Regulatory Technical Standards (RTS) to specify criterial for assessment of MLV, and is currently of the opinion that the Commission should initiate legislative steps to clarify the scope of the draft RTS empowerment to exclude any implications on covered bonds.

The EBA notes that harmonising the valuation practices in covered bond markets should be considered as part of a comprehensive review of EU covered bond frameworks.