Fédération des Caisses Desjardins du Québec Strengthens Covered Bond Label’s Presence in North America
The Covered Bond Label Foundation (CBLF) is pleased to welcome Fédération des caisses Desjardins du Québec as the latest Issuer to join the Covered Bond Label. As of today, the Covered Bond Label has been granted to 103 cover pools belonging to 87 Issuers across 16 jurisdictions globally.
The Covered Bond Label is a quality Label, of which the primary purpose is to highlight to investors the security and quality of covered bonds, and to further enhance recognition of and trust in the covered bond asset class.
Commenting on this development, Luca Bertalot, Covered Bond Label Foundation (CBLF) Administrator, stated:
“We welcome Fédération des caisses Desjardins du Québec’s commitment to the Covered Bond Label. The growing interest in the covered bond asset class by the North American issuer and investor communities goes hand in hand with the global evolution of the Label Initiative, which responds to a worldwide request for common standards, enhanced transparency and comparability in the covered bond industry.”
The Covered Bond Label is open to all covered bond programmes that are compliant with the Covered Bond Label Convention (available here) and disclose their data by publishing the Harmonised Transparency Template (HTT). More information on all labelled Issuers and the Label itself can be found on the Covered Bond Label website at www.coveredbondlabel.com.
Covered Bond Label Foundation (CBLF)
Tel. +32 2 285 40 33
Notes to the Editor:
1. The Covered Bond Label Foundation (CBLF) was established in 2012 by the European Mortgage Federation –European Covered Bond Council (EMF-ECBC). The Covered Bond Label website became fully operational on the 1st of January 2013, with the first Labels being effective since then. The website features the Harmonised Transparency Template (HTT) and 14 National Transparency Templates, published by 87 issuers disclosing information on 103 labelled cover pools across 16 jurisdictions. 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).
2. 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 7 trillion EUR at the end of 2015. The EMF currently has 17 members across 14 EU Member States as well as a number of observer members.
3. 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. The ECBC currently has over 110 members across more than 30 active covered bond jurisdictions and many different market segments. ECBC members represent over 95% of covered bonds outstanding, which were worth nearly 2.5 trillion EUR at the end of 2015.