EBA readies for next ESN step

European Banking Authority EBA Canary Wharf PA 230x150
By Bill Thornhill
25 Jul 2018

The European Banking Authority’s final report on European Secured Notes (ESNs) was published on Tuesday. It should pave the way for the European Commission to consider setting up a legal framework for the product, which may emerge at the same time as the covered bond directive in February 2019.

The report contained few surprises and was broadly in line with the presentation the EBA made in June, from which it took consultation from the market leading to this publication.

ESNs are a proposal for a way for banks to issue bonds secured against loans they make ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial