EBA pushes ESNs closer to the light of day

The European Banking Authority will soon publish outline proposals setting out the case for European secured notes (ESNs), which according to Moody’s may not necessarily be any riskier than traditional covered bonds.

  • By Bill Thornhill
  • 25 May 2018

The EBA will publish an outline proposal for ESNs one week before holding a public hearing on June 26. 

The proposal comes in response to a request from the European Commission, which asked the EBA to assess whether ESNs could be a useful funding option. 

The EBA has also been ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 8,480.26 46 5.79%
2 UniCredit 7,639.27 45 5.22%
3 Natixis 7,582.74 35 5.18%
4 LBBW 7,539.58 43 5.15%
5 Credit Suisse 7,360.16 38 5.03%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 49,849.19 198 6.61%
2 Bank of America Merrill Lynch 49,780.02 176 6.60%
3 Citi 46,505.24 237 6.17%
4 Goldman Sachs 42,555.42 319 5.65%
5 Morgan Stanley 41,571.44 217 5.52%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 41,487.73 141 10.97%
2 Bank of America Merrill Lynch 40,709.11 148 10.77%
3 Citi 38,330.74 188 10.14%
4 Goldman Sachs 34,561.36 285 9.14%
5 Morgan Stanley 32,672.22 174 8.64%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 6,119.91 22 8.12%
2 UniCredit 4,780.36 19 6.34%
3 LBBW 4,596.09 19 6.10%
4 Deutsche Bank 4,163.44 13 5.52%
5 Commerzbank Group 3,994.46 14 5.30%

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 4,538.06 9 12.86%
2 UBS 3,374.07 13 9.56%
3 BNP Paribas 2,596.35 10 7.36%
4 Credit Agricole CIB 2,458.47 6 6.97%
5 SG Corporate & Investment Banking 2,180.25 9 6.18%