On 20 June 2019, S&P Global Ratings published its Covered Bonds Primer providing a comprehensive guide to the fundamentals and key features of the product.

More specifically, the report summarises the following:

- Definition of a covered bond;
- The benefits of covered bonds;
- The regulatory framework;
- Covered bonds versus securitisation;
- Covered bond program structures;
- Cover pool assets;
- Coverage tests;and
- S&P analytical approach

To read the full report, click here