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. 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.
The CBIC committee is chaired by Acting Chairman, Andreas Denger.
Formal responses to regulatory initiatives as well as to market proposals, including the CBIC own work on transparency, are available here.