Press release

Caisse des Dépôts Appoints Market Representative to the

Covered Bond Label Advisory Council”

Brussels, 22 May 2018 – For immediate release

The Covered Bond Label Foundation (CBLF) is delighted to announce that Caisse des Dépôts has appointed Mr Yvan Lavastre, Covered Bonds, ABS & CLO Portfolio Manager, as a Market Representative on the Covered Bond Label Advisory Council with immediate effect.

As of May 2018, the Covered Bond Label has been granted to 117 cover pools belonging to 101 issuers across 18 jurisdictions in Europe, North America 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.

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 macro-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.

Further to Mr Lavastre’s appointment, the Label Advisory Council’s full membership is as follows:

Market Representatives (Based on a rotation principle):

• Andreas Denger, Senior Portfolio Manager at Meag Munich Ergo Asset Management GmbH
• Hélène Heberlein, Managing Director, Covered Bonds, Fitch Ratings
• Gavin Purtill, Banking & Payments Federation Ireland
• Amer Siddiqui, Partner, Simmons & Simmons
• Yvan Lavastre, Covered Bonds, ABS & CLO Portfolio Manager, Caisse des Dépôts

Observer Representatives:

• Loïc Chiquier, Chief Technical Officer and Senior Advisor of the Finance & Markets Global Practice, World Bank Group
• Andreea Moraru, Senior Banker – Local Currency and Capital Market Development Team, European Bank for Reconstruction and Development (EBRD)
• Slavka Eley, Head of Unit – Banking Markets, Innovation and Products, European Banking Authority (EBA)
• Emilio Rodríguez, Head of the Asset Management Division, Banco de España
• Alessandro Tappi, Director of Guarantees, Securitisation & Microfinance, European Investment Fund (EIF)
• Ad Visser, Head of the Financial Markets and Collateral Section in the ECB’s Market Operations Analysis Division, European Central Bank (ECB)

National Authority Representatives:

• François Haas, Deputy General Manager, DG Operations, Banque de France
• Michal Klestinec, Senior Portfolio Manager, National Bank of Slovakia
• Lily Shum, Canada Mortgage and Housing Corporation (CMHC)

In commenting on the appointment, Luca Bertalot, Covered Bond Label Foundation (CBLF) Administrator, stated:

“We are pleased that Caisse des Dépôts has affirmed its commitment to the work of the Covered Bond Label Foundation’s Advisory Council by appointing Mr Lavastre as a Market Representative reinforcing the investors’ perspective in the Council’s debates. We are confident that this cooperation will make a significant contribution to the continued expansion and enhancement of the Covered Bond Label initiative.”

This Press Release is available on the Covered Bond Label website here.