Basel gives covered bonds a global boost

The Basel Committee on Banking Supervision’s (BCBS) has formally recognised covered bonds for the first time. With the introduction of a global preferential risk weight, supply and demand should be boosted, along with the market’s global expansion to new jurisdictions.

  • By Bill Thornhill
  • 11 Dec 2017

The Basel III reforms, which the BCBS concluded last week, introduced a specific chapter on covered bonds that presented a standalone treatment for the asset class at the Bank of International Settlements level for the first time.

“In other words, the asset class is perceived to be different ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 11,812.99 65 5.42%
2 UniCredit 11,671.56 81 5.35%
3 LBBW 10,428.35 68 4.78%
4 Natixis 10,056.83 54 4.61%
5 UBS 10,023.11 54 4.60%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 76,286.55 325 6.16%
2 Citi 75,616.17 381 6.11%
3 Bank of America Merrill Lynch 74,287.75 290 6.00%
4 Goldman Sachs 69,250.76 575 5.59%
5 Morgan Stanley 64,136.05 354 5.18%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 62,656.60 228 10.68%
2 Bank of America Merrill Lynch 62,176.39 241 10.60%
3 Citi 58,885.51 284 10.04%
4 Goldman Sachs 52,481.43 510 8.95%
5 Morgan Stanley 49,661.01 274 8.47%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 7,428.28 28 7.14%
2 UniCredit 5,756.33 23 5.53%
3 LBBW 5,736.91 24 5.51%
4 Deutsche Bank 5,667.40 19 5.44%
5 Commerzbank Group 5,647.34 22 5.43%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 HSBC 7,584.11 21 12.84%
2 Barclays 4,776.16 18 8.08%
3 Credit Suisse 4,490.78 15 7.60%
4 BNP Paribas 4,171.68 19 7.06%
5 UBS 3,877.49 18 6.56%