On August 29, the European Covered Bond Council (ECBC) announced the publication of the 19th (2024) edition of its European Covered Bond Fact Book. It features the latest covered bond statistical data as of end 2023 and can be downloaded from the ECBC website here.
The 2024 edition of the Fact Book features the following content:
- CHAPTER I " KEY THEMES OF THE YEAR" presents an analysis of ten key themes of the year, offering an overview of the Industry’s outlook on topics such as sustainable, green, social covered bonds, sustainable housing and the role of covered bonds in global mortgage lending
- CHAPTER II "GENERIC SECTION" provides a detailed explanation of covered bond fundamentals, explores regulatory issues, the Capital Markets Union (CMU), the Liquidity Coverage Ratio (LCR), Solvency II, bail-in mechanisms (MREL and TLAC), and covered bond protection. This chapter also includes articles outlining the repo treatment of covered bonds by central banks, investigates the relationship between covered bonds and other asset classes, such as senior unsecured and government bonds.
- CHAPTER III "THE ISSUER'S PERSPECTIVE" presents an overview of the legislation and markets in 42 different countries, demonstrating the worldwide success and recognition, and the continued spread of the asset class (includes Australia and New Zealand data).
- CHAPTER IV "RATING AGENCIES & METHODOLOGY" sets out credit rating agencies’ various covered bond methodologies.
- CHAPTER V "COVERED BOND STATISTICS" provides a description of trends in the covered bond market, as well as a complete set of covered bond statistics up to the end of 2023.
The covered bond market statistics for 2023 are now available via the ECBC website here and you can also view a short video introduction of the statistics by the Chairman of the ECBC Statistics & Data Working Group, Mr Joost Beaumont.
The ECBC data covers market developments over the past 20 years for 36 different countries (including Australia and New Zealand).