Covered bond volumes to hit €150bn in 2018
Global covered bond primary volume across all currencies is set to rise by €25bn from 2017 to €150bn equivalent in 2018 according to analysts at Crédit Agricole research. Issuance will be boosted by new borrowers and refinancing of liquidity borrowed under the term long term refinancing operation (TLTRO).
So far this year €105.5bn has been issued in euros including taps, and year-to-date supply across sterling, dollars and euros has so far amounted to €125bn equivalent.
Reaching the €150bn target is going to be challenged by the fact that the cost of senior preferred funding
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