22 April 2020
Brussels, 22 April 2020 – For immediate release
Further to the establishment of the European Mortgage Federation – European Covered Bond Council (EMF-ECBC) COVID-19 Task Force, today the EMF-ECBC publishes the first output of the Task Force’s work in the form of the EMF-ECBC COVID-19 Response Dynamic Monitoring Report.
This Report, which will be reviewed and updated by the Task Force on a weekly basis, seeks to analyse the economic impacts of the ongoing COVID-19 outbreak on mortgage and covered bond markets, compile relevant national, European and international measures – on both the retail and funding sides, and gather critical statistics. As such, the Report is intended to present all market stakeholders with a single reference point for the latest information concerning how the Industry is seeking to respond to this unprecedented situation in the interests of consumers, lenders and investors.
To recap, in parallel to the production of the Dynamic Monitoring Report, in cooperation with EMF-ECBC members in Europe and globally, as well as European and international institutions and organisations, the Task Force will also be seeking to identify market best practices and solutions in the context of the COVID-19 response. The Task Force will look to use this intelligence to deliver market coordination and support to a future European recovery plan aimed at stimulating socio-economic recovery and securing financial stability.
Commenting on the publication of the Dynamic Monitoring Report, EMF-ECBC Secretary General, Luca Bertalot, stated:
“The EMF-ECBC is fully engaging and mobilising its membership to ensure strong European coordination of Europe’s mortgage and covered bond markets’ reaction to this unprecedented crisis. Moreover, it is taking the lead in identifying economic and financial responses which will support Europe’s recovery in the coming weeks and months.”
Further details relating to the EMF-ECBC COVID-19 response, including details of the Task Force’s membership and access to the latest version of the Dynamic Monitoring Report can be accessed via the new COVID-19 page of the EMF-ECBC website.
The European Covered Bond Council (ECBC) is the platform that brings together covered bond market participants including covered bond issuers, analysts, investment bankers, rating agencies and a wide range of interested stakeholders.
