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Covered bonds

To access the final CBIC European transparency standards template, please click here.



Covered bonds are an important part of the financing of the mortgage and public sector markets in Europe. Furthermore the asset class represents an important source of term funding for banks. Therefore a thriving covered bond market is essential for the future of the European banking sector and European citizens’ possibility to finance house loans at a reasonable rate.

The ICMA AMIC Covered Bond Investor Council is an investor driven organisation, independent of both issuers and the market, which ICMA supports with secretariat and administrative services. Covered bond issuers and traders have their own organisations to represent their views. Investors need to ensure that their views are made known and interests protected at an early stage in every industry discussion. The CBIC committee is chaired by Acting Chairman, Andreas Denger.

The CBIC represents investors interested in the European covered bond market. The CBIC wants to embrace all investors, diversified by geography, type of activities and size. The CBIC promotes the high quality, simplicity and transparency of the product. Improving transparency is viewed as essential for the market and to make it possible for investors to compare different covered bond programmes. The CBIC believes that covered bonds should be designed to be simple, investor-friendly products, subject to high common minimum disclosure standards. Given the importance of liquidity for a well-functioning covered bond market, the CBIC will support and encourages the improvement of liquidity in the covered bond market.

Working groups are established from time to time to deal with specific questions and matters arising which are relevant to the group. These include a Liquidity Working Group, managed by Claus Tofte Nielsen and a Transparency Working Group, managed by Andreas Denger.

A new working group on covered bond 'look alikes' will be established in the Autumn of 2013. Click here for details.

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The final template of the CBIC European Transparency standards is available here. Find more information about the final template here.

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Any statement or public or private communication from the CBIC cannot be taken to represent individual members unless stated otherwise.