ECBC, VDP give guarded welcome to covered bond directive

The European Covered Bond Council (ECBC) and Association of German Pfandbrief Banks (VDP) have given a guarded welcome to the European Commission’s proposed covered bond directive, but analysts have raised a number of questions.

  • By Bill Thornhill
  • 14 Mar 2018

The covered bond directive proposed on Monday by the Commission is set to start its journey through the EU's legislative process.

According to the ECBC, “it is of paramount importance that the final outcome strikes the right balance between safeguarding the smooth functioning of the market… and ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 13,951.26 77 5.56%
2 UniCredit 12,799.14 93 5.10%
3 Natixis 11,652.77 67 4.64%
4 UBS 11,388.66 61 4.54%
5 LBBW 11,285.83 74 4.50%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 87,198.51 364 6.21%
2 Citi 78,914.26 425 5.62%
3 Bank of America Merrill Lynch 78,244.27 325 5.58%
4 Goldman Sachs 72,613.81 636 5.18%
5 HSBC 71,510.81 339 5.10%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 70,551.16 252 11.09%
2 Bank of America Merrill Lynch 64,880.35 272 10.20%
3 Citi 61,732.00 323 9.70%
4 Morgan Stanley 54,578.23 314 8.58%
5 Goldman Sachs 54,299.46 565 8.53%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 8,357.33 33 7.02%
2 Commerzbank Group 6,550.39 26 5.51%
3 Deutsche Bank 6,535.71 22 5.49%
4 UniCredit 6,513.66 27 5.47%
5 LBBW 6,441.23 28 5.41%

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 7,765.93 22 11.95%
2 BNP Paribas 5,338.58 23 8.21%
3 Barclays 5,124.61 20 7.88%
4 Credit Suisse 4,520.44 16 6.95%
5 UBS 3,976.00 19 6.12%