The Covered Bond Investor Council is an investor driven organisation, independent of both issuers and the market, which ICMA supports with secretariat and administrative services. 
CBIC provides investors, who have significant holdings in this sector, with a distinct voice to represent their interests with regulators and other organisations active in the covered bond market.

Covered bonds remain an important part of the financing of the mortgage and public sector in European markets and are an asset class with a significant public policy role. The covered bond market is also a significant source of bank financing beyond the current government guarantees and as such is part of any future solution to the current crisis. 

The key objectives of the Council are promoting the long term development of the European covered bond market and restoring confidence in the asset class.  The major topics that the Council will start to address are:

• Transparency in the cover pool
• Liquidity issues - including changing approaches of  rating agencies
• Restoring market liquidity

Accordingly two working groups have been established: a Liquidity Working Group, managed by Claus Tofte Nielsen; and a Transparency Working Group, managed by Andreas Denger and John Maskell.

Click here for more information. 

 

Membership

The Membership of the Council is open to all investors in covered bonds including central banks/ sovereign wealth funds; investment management companies; insurance companies; pension funds; and money manager/ bank liquidity manager accounts both within Europe and in other markets.

Chairman, CBIC
Claus Tofte Nielsen
Norges Bank Investment Management

Vice Chairman, CBIC
Andreas Denger
MEAG MUNICH ERGO Asset Management GmbH

CBIC Special Advisor
Tim Skeet
Chairman ICMA UK and Ireland Region

 

Contact
 

For more information about membership of CBIC or feedback on the work programme please contact the CBIC secretariat at cbic@icmagroup.org