Advantage securitisation, as covered miss risk weight cut
Covered bonds are set to face a risk weight disadvantage relative to the highest quality securitisations after a proposed CRR amendment to improve the treatment of European Covered Bonds (Premium) was dropped from the ECON Committee’s final position on an EU securitisation package.
Nominations please! The CBR Awards for Excellence 2026
The Covered Bond Report will be announcing the winners of the 2026 edition of our Awards for Excellence in conjunction with our annual Covered Bond Investor Conference on 25 June in Frankfurt, and we are kicking off the process with a call for nominations.
The German Sparkassen Pfandbrief Roundtable 2026
The red “S” is an increasingly recognised sign in not only Germany, but also the international capital markets, as the Sparkassen step up their syndicated issuance. Four such savings banks and sponsor NORD/LB joined our latest roundtable to discuss how they are tackling the Pfandbrief market, ESG issues, and evolving business dynamics.
EMF-ECBC calls for pan-EU mortgage guarantee scheme
The European Mortgage Federation-European Covered Bond Council has called for a “28th regime” mortgage guarantee scheme as part of a package of measures it argues would support the bloc’s broader economic and political targets, and further integration of mortgage markets.
Green bid delights as Nordea leads covereds into EuGBs
Nordea Mortgage Bank issued the first EU Green Bond in covered bond format on Wednesday, a €1bn three year that is also the first EuGB from a Nordic financial institution, and the bank’s efforts were rewarded with an especially strong outcome, head of covered bonds Morten Keil told The CBR.
LBBW ups buyback to €1bn as LM combo exceeds hopes
Landesbank Baden-Württemberg announced on Wednesday that it has bought back €1bn of Pfandbriefe, having upped the cap on a tender for six issues launched the previous week in conjunction with a new €500m benchmark, in the largest covered bond buyback by volume since 2020.
SR-Boligkreditt sees green a factor in book high, zero NIP
SR-Boligkreditt achieved its biggest ever order book for a covered bond last Wednesday, with its green format contributing to the level of demand and zero NIP achieved on the €1bn seven year, according to Dag Hjelle, the issuer’s CEO and head of treasury at SpareBank 1 Sør-Norge.
Arion defrosts Icelandic mart as Aa1 helps it to record book
Arion Bank issued the first Icelandic covered bond in almost three years last week, a €300m five year deal rated Aa1 that achieved the largest book from the country, and the bank now intends to be a more frequent issuer, according to head of treasury Eiríkur Dór Jónsson.
Recent news
- Haspa enjoys fruits of ESG efforts in €500m green first
- DKB steps up to €1bn as investors welcome 15 year
- Schwäbisch Hall, Hypo OOE ride out Greenland tensions
- DZ hires Lee in Asia-Pacific push
- Principality covered debut hits targets, adds funding flexibility
- Bank Leumi brings Israel into covered bond fold with debut
- Caffil gets record €10bn book in climax to French 10s frenzy
Latest benchmarks and subs
| NN Bank | |||
| EUR500m | 3.125% | 2033 | +26bp |
| OCBC | |||
| EUR500m | 2.989% | 2029 | +17bp |
| Santander UK | |||
| GBP750m | FRN | 2031 | +48bp |
| Westpac NZ | |||
| EUR750m | 3.119% | 2031 | +32bp |
| Coventry | |||
| GBP750m | FRN | 2029 | +42bp |
| Click issuer for more | |||
Categories
CBPP3»
5/05/23 •
Covered bonds seen well set for July end to CBPP3 era2/28/23 •
BHH shows life after CBPP3, HSBC Canada joins in fives2/21/23 •
NN, Sabadell successfully hit last CBPP3 primary orders
Dollars»
12/06/23 •
Dollars offer pbb unexpected cheer amid tricky conditions5/19/23 •
Westpac $1.75bn fives open 2023 dollar covered strongly12/09/22 •
RBC, BMO back for Canadian last hurrah in dollars, sterling
