The banks will issue mortgage bonds for loans in exchange of mortgages on houses, villas, industrial, storage and other buildings. This is said in a Mortgage Bonds Act adopted on second reading on Thursday. Mortgage bonds are offered publicly under the public offering law and if the offering is not public it will be made under the Commercial Code. According to Parliamentary Economic Committee Chairman Nikola Nikolov, who moved the bill, the establishment of a mortgage bond market will indirectly stimulate construction of real estates and the pensioner reform. In his view this instrument will provoke the interest of portfolio investors: retirement funds, insurance companies, etc