Past Event

European Harmonisation of Covered Bond Regimes + AGM 2018

With EUR 2.1 trillion in outstanding amounts, covered bonds are among the largest debt markets in Europe and represent an important source of long-term funding for European banks in general and Nordic banks in particular. In essence, covered bonds are dual-recourse debt securities issued by credit institutions and backed by segregated pools of mortgage and public sector loan assets. The EU covered bonds market is currently mainly regulated along national lines, with some differences in covered bond regimes across Member States.

In March 2018, the European Commission published a proposal for a harmonising directive on covered bonds laying down the conditions these bonds must meet to be recognised under EU law and strengthening investor protection by imposing specific supervisory duties. The directive proposal is complemented by proposed amendments to the Capital Requirements Regulation (Regulation (EU) No 575/2013). These proposals aim to enhance the use of covered bonds as a stable and cost-effective source of funding for credit institutions, especially where markets are less developed.

At this NCMF seminar, the proposal and its pros and cons was presented and discussed among lawmakers, issuers, investors, regulators and advisers.

Confirmed speakers include:

Valeria Miceli, Policy Officer, European Commission – DG FISMA

Luca Bertalot, Secretary General, The European Covered Bond Council (ECBC)

Charlotte Asgermyr, Chief Covered Bond and Fixed Income Market Strategist, SEB

Jonny Sylvén, Senior Advisor, The Association of Swedish Covered Bond issuers (ASCB)/The Swedish Bankers’ Association

Martin Rydin, Head of Treasury, Länsförsäkringar Bank

Tony Persson, Head of Fixed Income, Alecta

Markus Nilssen, Advokat, Advokatfirmaet BAHR

Henrik Mattson, Partner, Hannes Snellman Attorneys

Morten Bækmand Nielsen, Head of Investor Relations, Nykredit

Erik Kärrlander, Senior Analyst – Bank Policy and Credit Risk Models, The Swedish Financial Supervisory Authority

This half-day seminar took place in the afternoon of Monday 28 May 2018 at Mannheimer Swartling, Norrlandsgatan 21, Stockholm, Sweden. Registration started at 12.30 pm CEST and the seminar started at 1 pm CEST. The NCMF Annual General Meeting of 2018 was held in conjunction with the seminar. The seminar finished around 5 pm CEST and was followed by a networking reception.

Agenda

12:30

REGISTRATION

13:00

WELCOMING REMARKS
Martin Kihlberg, NCMF Board Member, and General Counsel and Chief Sustainability Officer, Landshypotek Bank

13:10

NORDIC COVERED BONDS: SIMILARITIES AND DIFFERENCES FROM A   MARKET PERSPECTIVE
Charlotte Asgermyr, Chief Covered Bond and Fixed Income Market Strategist, SEB

13:50

THE EU COMMISSION PROPOSAL ON COVERED BONDS
Valeria Miceli, Policy Officer, European Commission – DG FISMA

14:30

THE ECBC VIEW ON THE COMMISSION PROPOSAL
Luca Bertalot, Secretary General, The European Covered Bond Council (ECBC)

15:00

COFFEE BREAK

15:20

2018 ANNUAL GENERAL MEETING OF NCMF

15:45

PANEL: NORDIC COVERED BONDS AND THE COMMISSION PROPOSAL
Moderator: Mattias Lampe, NCMF Board Member, and Partner, Mannheimer   Swartling (moderator)

Above speakers
Jonny Sylvén, Senior Advisor, The Association of Swedish Covered Bond Issuers and The Swedish Bankers’ Association
Morten Bækmand Nielsen, Head of Investor Relations, Nykredit
Martin Rydin, Head of Treasury, Länsförsäkringar Bank
Tony Persson, Head of Fixed Income, Alecta
Markus Nilssen, Advokat, Advokatfirmaet BAHR
Henrik Mattson, Partner, Hannes Snellman Attorneys
Erik Kärrlander, Senior Analyst - Bank Policy and Credit Risk Models, The   Swedish Financial Supervisory Authority

17:00

NETWORKING RECEPTION

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