Covered Bonds

◆ A new NPL threat to Italian banks ◆ Hybrid capital gets a makeover ◆ Covered bond liquidity ◆ SSA market finds its rhythm

The covered bond market met in Munich on Thursday to celebrate its best at our gala dinner

Trio are coming from Aareal and UniCredit

Investors focus more on capital than covered bonds, writes Bill Thornhill

The withdrawal of the central bank from the covered bond market was ‘a game changer’ which has shaped 2023 into a potential second year of record issuance. But can the virtuous circle brought on by higher spreads and yields last? Atanas Dinov investigates

The pivotal contribution of covered bonds to banks’ funding plans was re-emphasised in a report by the European Banking Authority (EBA) in July

A rising population and expanding middle class give Asian covered bond market the chance to grow, writes Bill Thornhill

Non-core currency markets can offer covered bond borrowers a key source of funding diversity as banks return to wholesale issuance. With funding conditions normalising, their importance will continue to grow, writes Frank Jackman

The ECB’s withdrawal — both as investor and lender — from the bank bond market has rippled through covered bonds over the last 18 months, according to data from GlobalCapital’s Primary Market Monitor, which tracks syndicated benchmarks across asset classes in major currencies. Frank Jackman reports.

Deals went well but have not dispelled concerns around the fragility of euro covered bond demand

Issuers to 'de-risk' euro covered bond funding with short dated deals

After recent issuers choose size over pricing, HSBC prepares a rare visit with an expected ‘tight’ five year