Poor payment holiday visibility in covereds

By Bill Thornhill
10 Nov 2020

Apart from the UK, very few covered bond issuers have provided details on the proportion of loans in their cover pools that have been affected by payment holidays. Though covered bonds offer strong investor protection these safeguards risk being eroded.

Payment holiday disclosure is not part of the standard reporting in the covered bond market. 

Although the European Covered Bond Council (ECBC) introduced a new tab in its harmonised transparency template (HTT) that allows issuers to disclose the proportion of mortgage loans on payment holiday, only a minority of issuers have ...

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