×
ECR

Lucke: New plan to harmonise EU covered bond requirements will create security for investors

20 November 2018

Lucke: New plan to harmonise EU covered bond requirements will create security for investors

"Harmonisation of the requirements for covered bonds across the EU will create security for investors and open up new opportunities", said ECR German MEP Bernd Lucke today following the adoption of his report on a European covered bonds framework by the Parliament's Economic and Monetary Affairs Committee.

“Harmonisation of the requirements for covered bonds across the EU will create security for investors and open up new opportunities”, said ECR German MEP Bernd Lucke today following the adoption of his report on a European covered bonds framework by the Parliament’s Economic and Monetary
Affairs Committee.

Covered bonds are a financial product with a track-record of very low default rates, but this is the first time that clear and uniform criteria are being defined as to what exactly constitutes a covered bond in the EU. Mr. Lucke predicts we will soon see equal guarantees for investors across Europe, opening up new markets for covered bonds.

Speaking after the vote, Lucke said: “The fact that we were able to set consistent and clear criteria for covered bonds is a great success. With these high standards, we ensure the security of a financial product with a proven track-record. Investors can now rely on the security of these bonds throughout Europe.

“The new framework enables the development of markets for covered bonds even where they do not exist or are still relatively small. With clear rules, we are now strengthening competition and opening up new opportunities for investors. This ultimately benefits bank customers as well.”

“The proposed legislation on covered bonds is an important element in completing the Capital Markets Union.”

Looking ahead to future negotiations, Lucke said: “We will defend the high standards which we have proposed for covered bonds in the upcoming negotiations. Demands to accept inferior assets in the cover pool must be rejected. We have set a clear line to ensure that the quality of covered bonds is not impaired.”

SHARE

ECR

OUR TWEETS

ECR Group

3 hours ago

ECR Group co-Chair Ryszard #Legutko has reacted to the #EuropeanElections2019 ➡️ ecrgroup.eu/article/legutk…

ECR Group

yesterday

Good luck to all our member parties and candidates today! #ThisTimeImVoting twitter.com/europeelects/s…

ACRE

2 days ago

Polls are now open in Latvia, Czech Republic, Slovakia and Malta! Make sure you go and vote today! 🇱🇻🗳🇨🇿🗳🇸🇰🗳🇲🇹🗳… twitter.com/i/web/status/1…

Jan Zahradil

4 days ago

My last op-ed before #EP2019 elections, published by ⁦⁦@politico⁩. What kind of change #EU needs? Why East and West… twitter.com/i/web/status/1…

ECR Group

3 days ago

🌬️The ECR Group led the way on new rules to improve air quality throughout #Europe.🇪🇺 💨Not only is the issue of air… twitter.com/i/web/status/1…

ECR Group

7 days ago

🗣️The ECR Group led on the revision of the #EmissionTradingScheme. 📊The scheme puts monetary value on… twitter.com/i/web/status/1…

ECR Group

10 days ago

Illegal #animaltrafficking and wildlife products equate to an estimated 8-20 billion Euro a year business.💰The ECR… twitter.com/i/web/status/1…

ECR Group

11 days ago

Good luck to our MEP @ZahradilJan in tonight’s #TellEurope debate - watch live here 👇 twitter.com/TwitterGov/sta…

ECR Group

11 days ago

🌲Through #sustainabledevelopment, Europe can help build long lasting economies and industries across the world. 🏗Th… twitter.com/i/web/status/1…

European Parliament

13 days ago

Meet @ZahradilJan, one of the candidates for the presidency of the European Commission taking part in a live debate… twitter.com/i/web/status/1…





© 2018. All rights reserved. European Conservatives and Reformists Group