German Pfandbrief escapes impact of German ban
UniCredit Bank launched a new, Eu500m Pfandbrief issue this (Thursday) morning, despite markets being preoccupied with understanding the implications of a ban on uncovered short-selling of euro-zone government bonds and on naked CDS imposed on German banks by BaFin. But covered bond issuers outside Germany remain put out by the unilateral German initiative.
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