17 November 2016
The appointments for the Label Advisory Council were approved today at the Covered Bond Label Committee’s meeting in Brussels.
Of particular relevance is the appointment of Mr Alessandro Tappi, Director of Guarantees, Securitisation & Microfinance at the European Investment Fund (EIF), as a new Observer Representative to the Covered Bond Label Advisory Council. Mr Tappi’s appointment will take effect immediately. The participation of a representative of the EIF, the EIB Group’s specialist provider of risk finance to benefit SMEs, as a new institutional Observer will make a significant contribution to the work of the Advisory Council.
Further to the appointments, the Label Advisory Council’s full membership for the mandate 2017-2018 will be as follows:
Market Representatives (Based on a rotation principle):
National Authority Representatives:
Commenting on the appointments, Luca Bertalot, Covered Bond Label Foundation (CBLF) Administrator, stated:
“We welcome the support of the European Investment Fund for the Covered Bond Label Initiative. We are confident that Mr Tappi’s expertise, in particular in the area of long-term financing, together with the other new representatives, will surely enrich the debate within the Covered Bond Label Advisory Council and support the continuous enhancement of the Covered Bond Label.”
The Label Advisory Council is the Covered Bond Label Foundation’s think-tank. As such, it has an advisory role vis-à-vis the Label Committee and is responsible for supporting the development of the Covered Bond Label in the market and promoting the prudential role of the covered bond asset class. The Council realises its objectives by providing opinions/advice on consultations, offering a forum for discussion amongst covered bond stakeholders and making proposals for the further development and strengthening of the Label.
Furthermore, subject to a formal approval process, the Covered Bond Label Committee’s membership for the mandate 2017-2018 will be as follows:
Non-Issuer Members :
As of November 2016, the Covered Bond Label has been granted to 97 cover pools belonging to 81 issuers across 15 jurisdictions in Europe and Asia, resulting in a transparent legislative, qualitative and quantitative database, which significantly facilitates investors’ due diligence in the covered bond market and the exchange of market best practice.
This press release is available on the Covered Bond Label website here