dcsimg
FIG

Russia aims to tighten covered bond legislation

New proposals to tighten up Russian covered bond legislation could make the asset class look more like established jurisdictions, bankers hope. The Russian mortgage market has grown quickly, lifting prospects for fledgling covered bond issuance. But despite being Ucits-eligible and in line with the European Covered Bond Council’s Label definition, the country’s legal framework is not yet aligned with western Europe’s.

  • 04 May 2012
The country’s mortgage market has increased from €3.5bn equivalent four years ago to €17bn last year. The Russian government hopes to expand it from 7.2% of GDP in 2015 to 15.5% of GDP by 2030. With around half of this funding likely to come from covered bonds, the ...

Please take a trial or subscribe to access this content.

Contact Mark Goodes to discuss your access: mark.goodes@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please call Mark Goodes on +44 (0)20 7779 8605 or email mark.goodes@globalcapital.com to discuss your requirements.

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 May 2015
1 Natixis 6,294.60 36 6.39%
2 RBC Capital Markets 5,737.14 18 5.83%
3 HSBC 5,672.62 27 5.76%
4 BNP Paribas 4,752.91 21 4.83%
5 UBS 4,617.92 28 4.69%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 May 2015
1 JPMorgan 136,360.60 563 6.70%
2 Bank of America Merrill Lynch 134,658.52 524 6.61%
3 Citi 127,772.77 634 6.27%
4 Goldman Sachs 126,844.13 548 6.23%
5 Morgan Stanley 120,121.44 599 5.90%

Bookrunners of Dollar Denominated Covered Bond Above $1bn

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 26 May 2015
1 RBC Capital Markets 1,471.83 4 11.68%
2 Goldman Sachs 864.16 2 6.86%
3 Barclays 808.05 3 6.41%
4 UBS 790.63 2 6.28%
5 HSBC 551.64 2 4.38%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 May 2015
1 Deutsche Bank 13,257.42 41 9.18%
2 Goldman Sachs 11,096.31 26 7.68%
3 UBS 9,982.70 20 6.91%
4 Credit Agricole CIB 8,545.72 19 5.92%
5 SG Corporate & Investment Banking 7,347.84 20 5.09%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 May 2015
1 Natixis 3,875.87 19 8.72%
2 BNP Paribas 3,752.74 14 8.45%
3 HSBC 3,025.71 13 6.81%
4 Credit Agricole CIB 2,654.35 12 5.97%
5 Commerzbank Group 2,585.17 12 5.82%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 May 2015
1 Goldman Sachs 476.50 414 7.71%
2 JPMorgan 410.92 524 6.65%
3 Morgan Stanley 378.24 648 6.12%
4 Citi 357.10 600 5.78%
5 Bank of America Merrill Lynch 354.98 564 5.74%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 26 May 2015
1 Deutsche Bank 4,833.30 12 12.55%
2 Credit Agricole CIB 4,774.91 4 12.39%
3 UBS 4,406.20 4 11.44%
4 HSBC 2,970.48 6 7.71%
5 JPMorgan 2,730.43 13 7.09%