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FIGCovered Bonds

ECB underplays sovereign risk to covered bonds

Risk management crash crisis adobe stock AS 230x150

A recent European Central Bank working paper may have underestimated the part a sovereign’s credit plays in the covered bond’s credit risk. But this relationship plays a very important role, a Moody’s analyst said on Monday, referring to a report by the agency assessing how the pandemic will affect covered bond credit quality.

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