Covered Bond Structuring Alternatives

Covered Bond Structuring Alternatives

There are several different ways to structure covered bonds. In this video, Richard covers the main structures, their implications and why they might be the best option in any given country.
Overview

There are 4 key structures of covered bonds. All of the models outlined below achieve similar rating uplifts, legally robust segregation, management of assets in insolvency and produce bonds that investors are equally happy to buy – which is used depending on the local legal environment amongst other variables.

Key learning objectives:

  • Be able to identify and define each key structure

  • Explain how they work

  • Discuss key considerations and implications of each model

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Summary
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Expert
Richard Kemmish

Richard Kemmish

Richard is a consultant working mainly in the covered bond market. He helps Finance Ministries and Central Banks in countries without covered bond laws to put legal frameworks in place. He has also helped the European Commission with their legislative agenda for covered bonds and related products.

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