ECB gives wings to ICMA's transparency initiative

A new transparency initiative was unveiled at Thursday’s European Covered Bond Council plenary session in Stockholm. The prospective new standards will dovetail with a separate transparency initiative by the European Central Bank – potentially implying a material funding benefit for those that comply. The initiative is likely to help quell the clamour for cover pool data, raised most recently by credit intensive investors which have conspicuously swelled demand this year – as well as help investors form a view that is independent of credit ratings.