14 February 2017
The Singapore-based financial institution is the 84th issuer to join the Covered Bond Label.
“We are pleased to see that OCBC Bank has restated its commitment to transparency by recognising the value of the Label for its business and investors globally. Reaching 100 labelled cover pools is an important milestone, which demonstrates issuers’ appetite for the Covered Bond Label and further strengthens the presence of our initiative in a key Asian market.”
Luca Bertalot, Covered Bond Label Foundation (CBLF) Administrator
The Covered Bond Label is a quality Label which responds to a market-wide request for improved standards and increased transparency in the covered bond market.
On the Covered Bond Label website, investors can retrieve key information, such as LCR eligibility, on over 4,200 different covered bonds, and consult the profiles of 84 issuers representing 16 different covered bond jurisdictions globally.
The primary purpose of the Label is to highlight to investors the security and quality of covered bonds, and to further enhance recognition of and trust in the covered bond asset class. The introduction of the Harmonised Transparency Template (HTT) requires the labelled issuers from all covered bond jurisdictions to disclose their cover pool information in a standardised way, regardless of their jurisdiction. As of the 1 st of January 2017, all labelled issuers have to comply with the requirements of the 2017 Covered Bond Label Convention (available here), which entails disclosing their data by publishing the HTT.
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.
