- Funding Programme
- Structural Reform Support Programme (SRSP)
Strengthening and integrating EU's capital markets through cross-border and regional initiatives
for the Baltic States: Estonia, Latvia and Lithuania
The Commission supported national authorities in their efforts to improve regional capital markets in the Baltic States with the introduction of a regional covered bond framework.
Ministries from different EU Member States sought to strengthen and integrate their capital markets through cross-border and regional initiatives. This initiative helped build regional investment capacity.
Together with the EBRD, the Commission supported the Member States with measures to assist in the introduction of a pan-Baltic covered bond framework.
The support measures consisted of:
- reviewing the existing financial sector legislation to identify issues that may hinder the development of a securitisation and covered bond market;
- proposing new legislation to provide a legal basis for covered bonds and securitisation instruments.
The Commission support delivered the following results:
- contribute towards well-functioning and larger capital markets in the region;
- opening up the long-term funding options for banks, allowing them to increase lending to regional economies;
- increasing the resilience and competitiveness of the Baltic economies in the region enabling them to face external shocks.