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.

The Label:

  • 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

ECBC Covered Bond Comparative Database

Compare key feature of each covered bond juridiction

Country Comparison

Schematic overview of the key features of national covered bonds laws Issuers

Go to national frameworks

Sign up in 5 steps

  • 1

    Self-certification of compliance with the Covered Bond Label Convention

  • 2
    Commitment to Transparency

    Commitment to Transparency by disclosing relevant data information of your labelled cover pool by using the Harmonised Transparency Template to be published at least every quarter.

  • 3
    Set-up of the issuer profile

    Completion of information on issuer, cover pool(s), covered bond list

  • 4
    Upload of the HTT

    The HTT is uploaded on the issuer’s website whereas on the Covered Bond Label website the Excel URL of the HTT is required to create the HTT reporting Tool

  • 5
    Optional – Press Release

    Once the sign-up process is completed the Secretariat offers to publish a press release to announce the joining to the Covered Bond Label.

Latest news of the label

Landsbankinn hf. joins the Covered Bond Label

Monday 08 May, 2023

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Erste Group Bank AG Austria to join the Covered Bond Label

Wednesday 25 January, 2023

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National Australia Bank Ltd joins the Covered Bond Label

Monday 23 January, 2023

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Belfius Bank joins the Covered Bond Label

Thursday 19 January, 2023

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Australia and New Zealand Banking Group (ANZ) to join the Covered Bond Label and deepen integration in the Region

Wednesday 07 December, 2022

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Latest covered bond details

26/05/2025 Mortgage

UniCredit Bank AG

2,000,000 €

26/05/2031 Mortgage

Länsförsäkringar Hypotek AB

2,000,000,000 NOK

31/05/2026 Mortgage

Van Lanschot Kempen NV*

500,000,000 €

26/05/2028 Mortgage

Credit Agricole Home Loan SFH

280,000,000 CHF

Recently published HTTS


Grupo Cooperativo Cajamar


Nationale-Nederlanden Bank N.V...


Van Lanschot Kempen NV*


BNP Paribas Home Loan SFH


Aegon Bank N.V.