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 ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 01 Sep 2015
1 HSBC 9,739.53 47 6.54%
2 Natixis 8,793.50 49 5.91%
3 UBS 7,992.36 47 5.37%
4 RBC Capital Markets 7,713.90 25 5.18%
5 BNP Paribas 7,204.17 30 4.84%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 31 Aug 2015
1 JPMorgan 65,317.90 299 7.19%
2 Citi 61,310.66 313 6.75%
3 Goldman Sachs 55,828.88 246 6.14%
4 Bank of America Merrill Lynch 55,506.66 239 6.11%
5 Morgan Stanley 52,566.96 237 5.79%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 01 Sep 2015
1 Goldman Sachs 15,913.78 39 7.69%
2 Deutsche Bank 15,495.14 58 7.49%
3 UBS 13,071.56 29 6.32%
4 SG Corporate & Investment Banking 11,143.88 33 5.39%
5 Credit Agricole CIB 10,200.23 29 4.93%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 01 Sep 2015
1 Natixis 5,819.79 27 4.04%
2 BNP Paribas 5,381.12 20 3.73%
3 HSBC 4,849.58 20 3.37%
4 Credit Agricole CIB 3,905.74 17 2.71%
5 Commerzbank Group 3,873.90 18 2.69%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Aug 2015
1 Goldman Sachs 691.76 664 7.00%
2 JPMorgan 638.31 966 6.46%
3 Citi 604.81 972 6.12%
4 Morgan Stanley 580.19 1060 5.87%
5 Bank of America Merrill Lynch 560.29 963 5.67%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 01 Sep 2015
1 HSBC 6,580.15 14 10.12%
2 Deutsche Bank 5,813.49 20 8.94%
3 UBS 5,536.85 11 8.51%
4 BNP Paribas 5,047.07 14 7.76%
5 Credit Agricole CIB 4,884.74 6 7.51%