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“EMF Publishes Quarterly Review – Q4 2015”


26 Apr 2016


Euro & Finance
Trade & Society

Brussels, 26 April 2016 – For immediate release

The European Mortgage Federation (EMF) has today published its Quarterly Review of European Mortgage Markets for the last quarter (Q4) of 2015.

Produced in cooperation with the Federation’s national experts, the Quarterly Review presents the latest short-term developments in mortgage and housing markets across the EU. The publication provides expert analytical commentary together with data tables and charts on the following key indicators:


  • Mortgage interest rates;
  • Total residential lending outstanding;
  • Gross and net residential mortgage lending; and
  • Nominal house price indices.


Overview of Q4 2015:

2015 has ended positively with an improving economic environment, leading to an overall recovery of gross lending figures. House prices show a general increase throughout the continent and especially in the major cities, but with slightly different nuances in the different countries. Finally, historically low interest rates reflect the expansionary monetary policies of the European Central Bank (ECB) and other central banks.

Luca Bertalot, EMF-ECBC Secretary General

The full Quarterly Review – Q4 2015 and the archive of previous editions (back to Q3 1998) are available on the EMF website here.



Daniele Westig

Economic Adviser

Tel: +32 2 285 40 40


For further information on the activities of the European Mortgage Federation (EMF) - European Covered Bond Council (ECBC) please contact us at:

Rue de la Science 14A, B-1040 Brussels, Belgium

Tel. +32 2 285 40 30



ECBC Covered Bond Comparative Database:



Notes to the Editor:

1.     Established in 1967, the European Mortgage Federation (EMF) is the voice of the European mortgage industry, representing the interests of mortgage lenders and covered bond issuers at European level. The EMF provides data and information on European mortgage markets, which were worth over 6.9 trillion EUR at the end of 2014. As of April 2016, the EMF has 19 members across 14 EU Member States as well as a number of observer members.

2.     In 2004 the EMF founded the European Covered Bond Council (ECBC), a platform bringing together covered bond issuers, analysts, investment bankers, rating agencies and a wide range of interested stakeholders. As of April 2016, the ECBC has over 100 members across 26 active covered bond jurisdictions and many different market segments. ECBC members represent over 95% of covered bonds outstanding, which were worth over 2.5 trillion EUR at the end of 2014.

3.     In June 2014, the EMF and the ECBC came together to form the Covered Bond & Mortgage Council (CBMC), which replaced the European Mortgage Federation as the legal name under which both entities operate, although in practice, both the EMF and ECBC brands are maintained and used to identify the two areas of focus within the CBMC’s scope.

4.     The Covered Bond Label Foundation (CBLF) was established in 2012 by the EMF-ECBC. The Covered Bond Label website became fully operational on the 1st of January 2013, with the first Labels being effective since then. As of April 2016, the website features 14 National Transparency Templates, 77 issuer profiles and information on 91 labelled cover pools. The Covered Bond Label website currently provides issuance data on over 4,200 covered bonds, amounting to a total face value of over 1.4 trillion EUR, out of which over 2,000 covered bonds already include information on the Liquidity Coverage Requirement (LCR).

5.     For the latest updates from the EMF-ECBC, follow us on Twitter, LinkedIn and YouTube or visit the EMF-ECBC blog at


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