3 April 2020
Brussels, 3 April 2020 – For immediate release
As a first concrete step towards supporting efforts to address current and future economic challenges in the context of the COVID-19 outbreak, the European Mortgage Federation – European Covered Bond Council (EMF-ECBC) has established a special Task Force on COVID-19.
The work of the Task Force is already underway to, in the first instance, analyse the impacts on mortgage and covered bond markets, compile relevant national, European and international measures, and gather critical statistics. Using this intelligence, the Task Force will move into a second stage, during which it will identify market best practices and solutions with a view to delivering market coordination and support to a future recovery plan. Crucial to this will be a dynamic dialogue with EMF-ECBC members in Europe and globally, as well as European and international institutions and organisations.
The Task Force is composed of retail, funding and investment bank representatives appointed by the EMF Executive Committee and the ECBC Steering Committee for each Member jurisdiction, and will meet virtually at least once a week for as long as is necessary.
The establishment of this Task Force is a strong sign of the commitment of the Mortgage and Covered Bond Industries to act in the interests of consumers, lenders and investors to help stimulate socio-economic recovery and secure financial stability.