Covered Bond Label
Quality label which responds to a market-wide request for improved standards and increased transparency in the covered bond market.
What is the Covered Bond Label?
The Covered Bond Label is a quality Label which responds to a market-wide request for improved standards and increased transparency in the covered bond market.
- Establishes a clear perimeter for the asset class and highlights the core standards and quality of covered bonds;
- Increases transparency;
- Improves access to information for investors, regulators and other market participants;
- Has the additional objective of improving liquidity in covered bonds;
- Positions the covered bond asset class with respect to the new upcoming regulatory environment (CRD IV/CRR, Solvency II, redesign of ECB repo rules, etc.).
The Label is based on the Covered Bond Label Convention, which defines the core characteristics required for a covered bond programme to qualify for the Label. This definition of the required characteristics, compliant with Article 129(7) of the CRR and, starting from 8 July 2022, with Article 14(2) of the Covered Bond Directive, is complemented by the Harmonised Transparency Template.
The Covered Bond Label was created by the EMF/European Covered Bond Council (ECBC) in 2012. It was developed by the European issuer community, working in close cooperation with investors and regulators, and in consultation with all major stakeholders.
For further information on the non-EEA Label, please click here
Covered Bond Label Introduction
- No active covered bond market
- Active covered bond market but no Covered Bond Label
- Covered Bond Label presence
- Initial stakeholders’ debate on covered bonds