Press release

Portugal’s Novo Banco Joins Covered Bond Label

13 February 2017


The Covered Bond Label Foundation (CBLF) is pleased to announce that Novo Banco S.A. of Portugal has today become the 83rd issuer to join the Covered Bond Label.

Following this development, the total number of cover pools under the Covered Bond Label now stands at 99 across 16 jurisdictions globally.

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.

Commenting on Novo Banco’s accession, Luca Bertalot, Covered Bond Label Foundation (CBLF) Administrator, stated:

“We are pleased to see that the Covered Bond Label represents a market benchmark for both global and European issuers, and welcome Novo Banco to the Covered Bond Label community. This Portuguese addition reinforces the European coverage of our transparency initiative.”

 The Covered Bond Label Foundation is committed to the maintenance and further development of the existing high standards of the covered bond asset class in a changing environment. As of the 1st 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 Harmonised Transparency Template.