Exemption from the minimum requirement for own funds and eligible liabilities

(1) Mortgage credit institutions funded by covered bonds that are not permitted to take deposits are exempted from a minimum requirement for own funds and eligible liabilities, provided that the respective mortgage credit institution is wound down through insolvency proceedings or through measures under section 107(1), and it is thereby ensured that the losses borne by the creditors of those mortgage credit institutions and by the holders of the covered bonds correspond to the resolution objectives.
(2) Mortgage credit institutions within the meaning of subsection (1) are also not included in the consolidation under section 49e(1).