After two years of work, amendments to the Cedulas Hipotecarias framework have been completed. On May 2, a publication of the royal decree 716/2009 in Spain’s Boletín Oficial Del Estado stated the terms of the amendments.

Dresdner Kleinwort analysts said that the core aspects of these regulations have been known to the market for some time and have already been legally implemented in early December 2007 (Ley 41/2007). They are, therefore, unlikely to have any immediate effect on pricing.

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