Posts Tagged ‘ EBA ’

EC launches covered consult, ‘voluntary’ EBA convergence an option

Oct 2nd, 2015
Jonathan Hill Sept 2015 App

The European Commission is open to allowing voluntary convergence of covered bond frameworks around EBA best practices, alongside a possible tightening of CRR eligibility, as an alternative to legislating moves towards harmonisation in a consultation paper released on Wednesday.

FI plans partial waiver to avoid concentration after EBA endorses Danes

Jan 9th, 2015
EBA image

The Swedish FSA is implementing a partial waiver from the application of CRR covered bond requirements that could cause concentration risk after the European Banking Authority agreed that a similar move in Denmark is justified.

ESAs’ EMIR consult offers swaps hope for covered bond industry

Apr 17th, 2014
EBA offices in London

European Supervisory Authorities EBA, ESMA and EIOPA launched a consultation on draft Regulatory Technical Standards for EMIR on Monday, which they said provide some flexibility for covered bonds, with one source cautiously welcoming the proposals as “looking quite positive”.

Bankföreningen says EBA encumbrance reporting plan risks credibility on central bank omission

Mar 27th, 2014
Thomas Ostros, managing director at the Swedish Bankers Association

The Swedish Bankers’ Association has called for liquidity assistance by central banks to be included in reporting of encumbered and unencumbered assets in a response to a European Banking Authority (EBA) consultation that finished last Thursday (20 March).

MPs send Barnier latest salvo as Danish detail ARMs plans

Jan 23rd, 2014
Karin Gaardsted, MP

Danish mortgage banks have begun announcing their plans for the forthcoming auction season of more than Dkr200bn (Eu26.8bn) of ARMs bond sales, while Danish MPs launched the latest salvo in the ongoing battle for covered bonds to be included as Level 1 assets in LCRs.

EC stresses EU-specific factors to raise Level 1 LCR hopes

Jan 16th, 2014
Press conference by Michel Barnier

The European Commission will take into account “features specific to the EU banking system and financial markets” in addition to European Banking Authority (EBA) reports and international standards when deciding on covered bonds’ status in the LCRs, according to an EC spokesperson.

EBA recommends against Level 1 for covered

Jan 9th, 2014
EBA image

The European Banking Authority (EBA) has excluded covered bonds from assets it has recommended should be eligible as extremely high quality liquid assets for Liquidity Coverage Ratio (LCR) purposes in a report to the European Commission.

EBA says LCR Level 2 only for covered: Does it actually matter for euro markets?

Jan 9th, 2014

The EBA on 20 December published its final recommendations on the Liquidity Coverage Ratio (LCR), which exclude covered bonds from Level 1 status. Crédit Agricole CIB’s Florian Eichert takes a closer look at the potential implications, and sees investor behaviour only really changing in response to a lower minimum rating criterion. 

Level 1 exclusion feared but ECBC says it’s not game over

Dec 5th, 2013
Helle Thorning-Schmidt_resized

Fears are mounting that covered bonds could fail to secure a position as Level 1 LCR assets after it emerged that the EBA’s Board of Supervisors is against such a recommendation. However, the ECBC and others have said that Level 1 inclusion remains a real possibility.

Early EBA liquidity ranking boosts covered bonds’ LCR case

Oct 24th, 2013
EBA offices in London

Covered bonds are virtually as liquid as government bonds, according to a “very preliminary” draft ranking released by the European Banking Authority yesterday (Wednesday), which market participants have said puts the asset class in a strong position to be considered as Level 1 assets in Liquidity Coverage Ratios.