The Covered Bond Voice of the European Mortgage Federation
The European Covered Bond Council
|
|
The European Covered Bond Council (ECBC) is the platform that brings together covered bond market participants which brings together covered bond issuers, analysts, investment bankers, rating agencies and a wide range of interested stakeholders.
The ECBC was created by the European Mortgage Federation (EMF) in 2004. As of August 2009, the Council has around 100 members across more than 20 active covered bonds jurisdictions and many different market segments. The ECBC represents over 95% of covered bond issuers in the EU.
Read more
|
|
|
|
|
What's New
The ECBC is pleased to present the 2009 edition of the European Covered Bond Fact Book. The Fact Book provides articles on the key themes of the year, as well as an explanation of covered bond fundamentals, detailed overviews of the legislation and markets in 29 countries, a description of the rating methodologies used with covered bonds and a description of trends in the covered bond market and a complete set of statistics. The Fact Book is available for download here
The Technical Issues Working Group has developed an online database presenting the key features of different covered bond frameworks across Europe. Intended as a way to increase transparency for all covered bond stakeholders, it also enables the features of different frameworks to be easily compared. The database can be accessed at www.ecbc.eu
The European Central Bank published a report on EU Banks' Funding Structures and Policies (May 2009).
The European Central Bank published a report into Covered Bonds in the EU Financial System (December 2008).
New Members
|
|
|
The ECBC is pleased to welcome:
|
|
|
represents roughly half the lending volume of Danish mortgage banks, a specialized, legally defined type of institution. Most of the lending is to private home owners, but lending to business Is not insignificant. All lending is matched by UCITS and CRD compliant covered bond issues.
|
|
|
S.C.a r.l. is the parent company of the group "Bipiemme – Banca Popolare di Milano", a leading northern Italian banking group. The group operates mainly in the region of Lombardy, and also has an important presence in the regions of Emilia Romagna, Piedmont, Lazio and Puglia. Banca Popolare di Milano became the first issuer of mortgage backed covered bonds in Italy with its inaugural jumbo issue in July 2008.
|
|
|
is a wholly owned subsidiary of DnB NOR Bank, Norway’s largest financial services group. DnB NOR Boligkreditt originates a large part of DnB NOR Group’s residential mortgages. The mortgages all have property situated in Norway as underlying collateral. DnB NOR Boligkreditt issues covered bonds in international and domestic capital markets and forms a very important part of DnB NOR’s funding strategy. At the end of 2008, DnB NOR had €14.6 billion covered bonds outstanding.
|
|
|
is an international financial services provider active in retail banking, merchant banking, private banking and asset management. Home markets are Belgium and Luxembourg. Fortis Bank conducts selected activities worldwide. Fortis Bank has 37,000 employees.
|
|
|
provide global data, analytics, news, and electronic trading platform services.
|
|
|
provide specialist mortgage due diligence focusing on underwriting quality, collections activity, credit risk analytics, property valuations, title checks and servicer operational reviews. Clayton Euro Risk work with investment banks, lenders/originators and investors including some of the leading banks and building societies. Clayton provide analytics and data to assess portfolio value and risk profile. CER also monitor the effectiveness of mortgage portfolio management by service providers. In addition to the UK, CER operate in France, Ireland, Italy, the Netherlands, Russia, Spain and Sweden.
|
|
|
is a multinational financial services group with 111,000 employees, 35 million customers and 1 million shareholders – in 32 countries. The group’s overall goal is to use its strengths to establish lasting relationships with increasingly satisfied customers in Spain, Europe and Mexico, in other American countries and in other places where it has a presence. BBVA is active both as a covered bond issuer (with over €40 bn of cédulas outstanding) and investment bank.
|
|
|
The group of banks, who’s roots can be traced back to 1483, provides retail banking services through some 500 branches. Banca Carige offers banking and other financial services (treasury, money market products, foreign exchange, underwriting, stock brokerage). Subsidiary banks include Cassa di Risparmio di Savona, Cassa di Risparmio di Carrara, and Banca del Monte di Lucca. Other subsidiaries offer asset management and insurance.
|
|
|
|
All ECBC Members |
|
|
|
|
|
|
|