Incentives lacking for India covered bond success

The National Housing Bank’s plan to introduce covered bonds to India may not take off on a large scale due to a lack of incentives both for issuers and investors.

  • 01 Nov 2012

India’s National Housing Bank (NHB) has released a working paper on facilitating a covered bond market but high quality names have little incentive to issue the bonds and the proposed structure would not offer investors enough downside protection against lower quality names.

The NHB, which is a subsidiary of ...

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