“2020 Harmonised Transparency Template (HTT) approved and New HTT completion guidelines published”
Brussels, 10 September 2019 – For immediate release
The Covered Bond Label Foundation (CBLF) is delighted to announce the formal adoption of the new and enhanced 2020 version of the Harmonised Transparency Template (HTT) together with the publication of new HTT completion guidelines
The 2020 HTT will be mandatory for all Covered Bond Label issuers as of the end of Q1 2020 and is already available for download here. The revised 2020 HTT is the result of the Label’s annual review process undertaken in collaboration with market participants across three continents (Europe, Asia and North America). It was approved during the Covered Bond Label Committee Meeting in Munich on 10 September 2019 ahead of the 30th ECBC Plenary Meeting.
The annual review of the HTT plays a pivotal role in the Label’s efforts to keep pace with current and prepare for upcoming regulatory requirements, allowing for cross-border data comparison in a centralised manner and a harmonised format. The latest changes in the HTT template will affect over €1.8 trillion of covered bonds outstanding as registered on the Cover Bond Label platform.
An HTT completion guideline has been finalised in order to support issuers to reduce potential misunderstandings in encoding the HTT and is available for download here.
Commenting on this development, Luca Bertalot, Covered Bond Label Foundation Administrator, said:
“The annual update of HTT is an extremely important exercise aimed at maintaining the quality of Cover Pool asset disclosures at the highest possible level and in line with market best practices. The strong market consensus to provide investors with a robust market instrument for their due diligence, fine-tuned every year and immediately implemented by all CB Label issuers, demonstrates the Covered Bond Label’s commitment to remaining the leading benchmark for market transparency and disclosure.”
The Covered Bond Label is a quality label, the purpose of which is to highlight the security and quality of covered bonds to investors and to further enhance recognition of and trust in the covered bond asset class.
The Covered Bond Label is open to all covered bond programmes that are compliant with the Covered Bond Label Convention and disclose their data by publishing the Harmonised Transparency Template (HTT).
More information on all labelled issuers and the Label itself can be found on the Covered Bond Label website at www.coveredbondlabel.com.
Covered Bond Label Foundation (CBLF)
Tel. +32 2 285 40 33
This Press Release is available on the Covered Bond Label website here.