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The European Covered Bond Council (ECBC)
Luca BERTALOT
Head of ECBC |
The ECBC announces its LABEL INITIATIVE, which highlights to investors the value and quality of covered bonds and further enhances the recognition of, and trust in the covered bond asset class.
> View Press Release
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Mission Statement
"Promoting the covered bond asset class as a key instrument enabling mortgage lenders to grant housing loans."
ECBC Plenaries
The ECBC Plenary meeting held in London on the 29th of March 2012 enabled talks to continue on key issues such as the ECBC label initiative. To know more about what takes place during an ECBC Plenary we invite you to view the video below.
Latest Members
 As a result of the strong growth of the Dutch covered bond market, in January 2011 the Dutch issuers decided to establish the Dutch Association of Covered Bond issuers (DACB). The main goal of the DACB is to represent Dutch issuers and to act as a platform for the exchange of information between its members. In practice this means that the DACB has the following key objectives: (1) to represent the interest of Dutch issuers in discussions with legislative and regulatory authorities; (2) to provide investors with information about the Dutch covered bond market; (3) to participate on behalf of Dutch issuers in international covered bond organisations like the ECBC; and (4) to continuously improve the quality of the Dutch covered bond product offering.
Pfandbrief & Covered Bond Forum Austria sees itself as an interest group promoting Austrian Pfandbriefe and covered bonds. The Forum was founded in 2010 by the following Austrian issuers of Pfandbriefe and covered bonds: BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse AG; Erste Group Bank AG (as the leading bank in the Sparkasse sector); Kommunalkredit Austria AG; Oesterreichische Volksbanken-Aktiengesellschaft; Raiffeisen Zentralbank; Oesterreich (as the leading bank in the Raiffeisen group of banks); UniCredit Bank Austria AG; Verband der österreichischen Landes-Hypothekenbanken.
 DBRS is a globally recognized credit rating agency providing credit opinions across a broad range of financial institutions, corporate entities, government bodies and various structured finance sectors in Europe, North America, Australasia and South America. With offices in London, New York, Toronto, and Chicago, DBRS is independently owned and operated and not affiliated with any institution or organization. Currently, DBRS rates more than 2,000 single-purpose vehicles, corporations, and financial institutions that issue a variety of debt including covered bonds, commercial paper and senior and subordinated term debt. DBRS's rating approach includes maintaining a stable and consistent rating philosophy by rating through economic cycles. Rating changes are made for structural reasons and true credit impairment, not cyclical factors.
 Crédit Mutuel Arkéa is a French cooperative regional bank, with a national network through diversified subsidiaries (private banking, corporate bank, consumer finance, etc.). Crédit Mutuel Arkéa is an autonomous regional bank and a member of the Crédit Mutuel national cooperative banking group. As of 1st June 2011, Crédit Mutuel Arkéa had EUR 3.2 bn covered bonds outstanding
For a full list of ECBC members, click here
Latest Documents
| ECBC Position Paper on MiFIR |
2012-04-30 |
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The European Covered Bond Council would like to raise three specific concerns with the European Commission’s Proposal for a Regulation on Markets in Financial Instruments (MiFiR) and the related draft report published by Mr Markus Ferber, the Rapporteur of the Committee on Economic and Monetary Affairs at the European Parliament (Ferber Report). |
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| Response from the ECBC: European Commission's Discussion Paper on the Debt Write-Down Tool - Bail-In |
2012-04-30 |
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The ECBC welcomes the European Commission endeavour to establish a European framework for crisis management in the financial sector and to equip authorities with effective tools to tackle bank crises at the earliest possible moment and avoid cost for taxpayers. One of those tools could be the debt write-down tool or bail-in which would allow public authorities to allocate unmanageable losses on banks’ shareholders and creditors. This tool would become available when an institution meets the trigger conditions and may be used in both a going concern scenario and a liquidation scenario. |
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| EMF/ECBC Position Paper on CRA III |
2012-02-28 |
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The European Mortgage Federation1 (EMF) and its European Covered Bond Council (ECBC) would like to reiterate their support to the European Commission Proposal to amend the Regulation on Credit Rating Agencies (CRAs). |
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| ECBC Label Convention |
2011 |
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The European Covered Bond Council (ECBC) announces its Label Initiative, which highlights to investors the value and quality of covered bonds and further enhances the recognition of, and trust in the covered bond asset class. The label will also improve access to relevant and transparent information for investors, regulators and other market participants. The long-term objective of the initiative is to promote liquidity and strengthen covered bonds' secondary market activity. |
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| ECBC Position Paper on CRD IV: arguments and supporting evidence |
2011-02-18 |
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As a key funding tool and as a solid investment class in the EU market, covered bonds contribute directly to the EU Commission's goal of promoting a more resilient banking sector. In this Note, the ECBC set out that covered bonds warrant an improved level of treatment than that proposed under the Basel Agreement. |
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