The Covered Bond Label Foundation, which was officially established in November 2012, announced that the Covered Bond Label and its Transparency Platform are both fully operational, with the first Labels issued being considered effective from 1st January, 2013.
Developed by the European Covered Bond Council (ECBC), the Covered Bond Label and its Transparency Platform respond to a market-wide request for improved standards and transparency in European covered bonds, and establish a qualitative perimeter for the covered bond market. The Label also demonstrates the unwavering commitment of the covered bond community to maintaining the quality of the asset class and to strengthening secondary market activity.
In preparing for the introduction of the Label, over recent months the European covered bond community has agreed upon a common definition of covered bonds and designed an extensive “Transparency road map” displaying detailed covered bond market data, comparable cover pool information and legislative details on the various legal frameworks designed to protect bondholders. This format allows for both the recognition of national specificities and the comparability of information required to facilitate investors’ due diligence.
For a full and comprehensive set of data on the labelled issuers, pools and bonds, interested parties are able to download this information in CVS format directly from the Label website under the “Label Data Statistics” tab or by clicking here.
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