The new framework should simplify the path for issuers seeking to market European covered bonds to investors in the US.
Key Points:
..The new framework will create minimum product and technical standards for covered bonds, focusing on high-quality cover pool assets.
..Covered bonds, which are not subject to “bail-in” powers, will have reinforced transparency and investor protections.
..Spanish covered bond programs will require the most updating, compared with the existing regime.
..Issuers should consider amending their documentation to facilitate marketing in the US.
Please see full publication below for more information.
