Covered Bonds

Stephan Dorner has left his job as covered bond and SSA analyst at the French bank for a new gig at Morgan Stanley.

Stephan Dorner has left his role as covered bond and SSA analyst at the French bank.

The Norwegian bank has mandated leads for its second covered bond of the year, to be launched on Tuesday.

The Cover Awards Dinner, held at the Casa Llotja de Mar in Barcelona on Thursday September 10, recognises excellence in the industry. The winners, as voted for by the market, are listed below.

The first Brazilian covered bond could be issued as early as next year as the development of the market continues. The central bank is working to have the necessary regulation in place by the end of the year, said experts at the ECBC/Euromoney congress in Barcelona.

The European Central Bank amended its collateral rules last week to allow banks to post non-marketable collateral for its regular monetary operations, as long as it is packaged in covered bond-style dual recourse instruments.

Many emerging markets and developing countries are in the process of setting up, or have set up covered bond regimes, said Loic Chiquer, chief technical specialist at the World Bank. Speaking at the European Covered Bond Council plenary session on Wednesday, Chiquer painted a bullish picture for the continued globalisation of covered bonds.

Many emerging markets and developing countries are in the process of setting up, or have set up covered bond regimes, said Loic Chiquer, chief technical specialist at the World Bank. Speaking at the European Covered Bond Council plenary session on Wednesday, Chiquer painted a bullish picture for the continued globalisation of covered bonds.

Fear not, the European Central Bank may be squeezing investors out of the market but the day will come when it eventually exits. And when it does, spreads will widen and buyers will be back, said bankers at the Euromoney Covered Bond Congress in Barcelona on Thursday - where 1,115 delegates registered their attendance.

UniCredit Italy became on Monday the first Italian bank to break through the mid-swaps barrier with a covered bond, but it needed to employ its lead managers’ balance sheets to do it.

Hypo Tirol has named leads for a new benchmark euro-denominated mortgage covered bond. Austrian mortgage-backed bond issuance appears to be gathering momentum after a long Heta hangover. However, rival bankers said that lingering concerns about the level of exposure the mortgage banks have to Heta may hamper the deal.

Covered bond issuers have front loaded this week, printing €5.5bn in just two days via seven deals.