EMF: ECBC launches its Label Initiative
07 October 2011
The European Covered Bond Council (ECBC) announces its Label Initiative, which highlights to investors the value and quality of covered bonds and further enhances the recognition of, and trust in, the covered bond asset class.
The label will also improve access to relevant and transparent information for investors, regulators and other market participants. The long-term objective of the initiative is to promote liquidity and strengthen covered bonds’ secondary market activity.
The Covered Bond Label is a key priority for the ECBC, which is developing the initiative in cooperation with issuers, investors and regulators with the aim of ensuring that the views of all stakeholders are incorporated.
The following key elements of the Label structure have been defined:
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The decision-making and supervisory role is to be entrusted to the ECBC Steering Committee;
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The labelling itself is to be based upon a principle of self-certification;
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Market participants will meet through an Advisory Council, which is designed to act as a market think tank;
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The operation of the Label will be entrusted to a Label Secretariat dealing with the practical day-to-day operation of the labelling process.
Press release
© EMF
