Caja Rural de Castilla-La Mancha and Société Générale’s covered bond issuers have become the first Europeans to bring their disclosure in line with the Covered Bond Label Foundation’s harmonised transparency template (HTT), after Singapore’s UOB unveiled the first globally on Friday.

The Covered Bond Label Foundation announced the moves of the Spanish issuer and the French – SG Société de Crédit Foncier (SG SCF) and SG Société de Financement de l’Habitat – this (Monday) morning.

“The publication of the first European HTTs represents a significant achievement in terms of enhancing transparency even further,” said Luca Bertalot, EMF-ECBC secretary general and Covered Bond Label Foundation administrator.

The HTT was introduced on 1 January but under a one year phase-in issuers adhering to the Covered Bond Label have a year to comply.

United Overseas Bank (UOB) of Singapore was the first issuer to take up the HTT, ahead of a planned debut covered bond.