Covered bond conclave as two way swaps discussed
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Covered bond conclave as two way swaps discussed

The rating of swaps in covered bonds has become increasingly inefficient and expensive for issuers as rating agency methodologies have tightened in the last few years. In response to the stricter swap criteria that are now in place, bankers have been discussing draft proposals and told EuroWeek that the talks could help to clear a big source of rating uncertainty for the senior secured product.

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