Help! Covered bond market cries out for Volcker certainty

Dire predictions of the implications for covered bonds of imminent US legislation may have been overblown, bankers and lawyers have told EuroWeek. They said that the proposed Volcker Rule may not hit covered bond structures that use SPVs, as industry bodies fear.

  • 24 Feb 2012
But in the absence of any certainty, there is utter confusion in the industry. The UK Regulated Covered Bond Council (RCBC) and the American Securitization Forum (ASF) have warned of possible unintended consequences of the Volcker Rule, which is set to come into law on July 21 as ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 Aug 2016
1 UBS 9,565.55 57 6.00%
2 HSBC 9,210.35 51 5.78%
3 Credit Agricole CIB 8,176.21 37 5.13%
4 Landesbank Baden-Wuerttemberg - LBBW 7,975.45 47 5.00%
5 Commerzbank Group 7,700.72 45 4.83%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 Aug 2016
1 JPMorgan 64,381.14 281 6.79%
2 Citi 58,699.72 316 6.19%
3 Goldman Sachs 53,627.92 267 5.66%
4 Morgan Stanley 53,248.59 234 5.62%
5 Bank of America Merrill Lynch 52,912.05 255 5.58%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 Aug 2016
1 JPMorgan 51,749.84 204 10.87%
2 Citi 49,176.89 244 10.33%
3 Bank of America Merrill Lynch 43,396.00 216 9.11%
4 Wells Fargo Securities 38,705.31 184 8.13%
5 Morgan Stanley 38,523.94 176 8.09%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 Aug 2016
1 Credit Agricole CIB 7,016.13 25 8.37%
2 UBS 5,981.15 20 7.13%
3 BNP Paribas 5,603.49 21 6.68%
4 Landesbank Baden-Wuerttemberg - LBBW 5,306.88 20 6.33%
5 Commerzbank Group 4,873.19 20 5.81%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 23 Aug 2016
1 BNP Paribas 6,163.54 19 11.44%
2 HSBC 5,625.84 17 10.45%
3 UBS 5,562.70 20 10.33%
4 Barclays 3,189.25 8 5.92%
5 JPMorgan 2,909.54 15 5.40%