18 September 2018
Brussels, 18 September 2018 – For immediate release
The Covered Bond Label Foundation (CBLF) is delighted to announce the formal adoption of the new and enhanced 2019 version of the Harmonised Transparency Template (HTT).
The 2019 HTT will be mandatory for all Covered Bond Label issuers as of the end of Q1 2019 and is already available for download here. The revised 2019 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) and it was approved during the Covered Bond Label Committee Meeting in Munich on 11 September 2018, and officially launched on occasion of the 28th ECBC Plenary meeting.
The annual review of the HTT plays a pivotal role in the Label’s effort to keep pace with current and prepare for future 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 c. €1.6 trillion of covered bonds outstanding as registered on the Cover Bond Label platform.
Commenting on these developments, Luca Bertalot, CBLF 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.”
To recap, 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.