Covered Bond Council Opposes Rating-Rotation Plan

The European Covered Bond Council says it is opposed to a proposal by the European Commission to require issuers to rotate the rating agencies they use, arguing that the plan “appears impracticable,” and could drive up costs without achieving its goal of reducing conflicts of interest.

  • 07 Mar 2012

The European Covered Bond Council says it is opposed to a proposal by the European Commission to require issuers to rotate the rating agencies they use, arguing that the plan “appears impracticable,” and could drive up costs without achieving its goal of reducing conflicts of interest.

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

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1 Citi 10,917.09 37 12.45%
2 Bank of America Merrill Lynch 10,011.21 29 11.41%
3 Barclays 8,176.97 25 9.32%
4 JPMorgan 7,602.76 28 8.67%
5 Wells Fargo Securities 6,773.29 27 7.72%