Press release

Covered Bond Label Community Continues to Grow and Becomes More Harmonised

21 March 2016

The Covered Bond Label Foundation (CBLF) is delighted to announce that the 91st Covered Bond Label has been granted to Banca Popolare di Milano (BPM), which has become the 77th labelled issuer on the Covered Bond Label website.

In line with the 2016 Covered Bond Label Convention BPM already published its Harmonised Transparency Template (HTT).

Alongside BPM, a number of issuers have recently started publishing their HTTs. The Covered Bond Label would like to thank BNP Paribas (Home Loan and Public Sector), Crédit Agricole (Home Loan and Public Sector), Crédit MutuelCIC (Home Loan), Ibercaja Banco and Nationwide Building Society for such a swift implementation of the HTT. By joining the Label and disclosing their HTT, these institutions have demonstrated their commitment to enhanced transparency towards both regulators and investors.

The HTT plays a pivotal role in the Covered Bond Label’s efforts to facilitate investors due diligence and cross-border comparison of data in a centralised way and in a comparable format.

“The continuous growth of the labelled issuers’ community and the pace of the shift to a harmonised disclosure method via the HTT are a testament to the commitment of the covered bond industry to transparency.

Luca Bertalot, Covered Bond Label Foundation Administrator

From the 1st of January 2016 onwards, with a phase-in period of one year, all labelled issuers will have to comply with the requirements of the 2016 Covered Bond Label Convention (available here), which entails publishing the HTT in order to disclose the data.

Information on all the Covered Bond Label issuers as well as more information on the Covered Bond Label itself can be found on the Label website: