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First Covered Bond Created in European DataWarehouse

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European DataWarehouse (ED) is pleased to announce that BPER Banca S.p.A. (BPER) has become the first issuer to publish and upload a covered bond (BPER OBG1) in EDwin, ED’s platform.

Covered bonds are dual recourse debt instruments secured by typically a cover pool of mortgage loans or public-sector debt with full recourse to the issuer. Bondholders have a preferential claim against the cover pool in priority to the unsecured creditors of the issuing credit institution.

The publication of the first covered bond in EDwin is an important milestone for ED in achieving its ultimate goal for fostering transparency throughout the financial markets.

Commenting on these developments, ED’s CEO Christian Thun stated:

Improving transparency for investors in the European financial markets has been the foundation and mandate for ED from its inception. With this in mind, I am delighted and honoured that BPER has chosen ED for the publication of the relevant information of its covered bond. With this decision BPER is setting a new benchmark in covered bond transparency supporting the transmission of information to rating agencies and other relevant parties.”

In this regard, BPER’s CFO Roberto Ferrari stated:

“We are proud to provide full disclosure on the cover pool details referred to our first Covered Bond Programme, totally collateralized with residential mortgage loans. We reckon that the same process established years ago for ABS could also be easily managed for covered bonds in order to let investors have full access and confidence in the underlying credit portfolio and its quality. In this regard the ECB RMBS template is the most favourable market standard to provide detailed information.”

Also, LINKS’s Banking Division Director Leonardo Mangia said:

“As a consultant of ED and IT&Data integrator, we have supported BPER for the first publication of relevant information about its Covered Bond in EDwin. We believe that improving data accessibility to investors is very important and therefore LINKS will continue advising and supporting banks in reaching this objective”.

Notes to editors

European DataWarehouse (ED) is the first centralised data repository in Europe for collecting, validating and distributing detailed, standardised and asset class specific loan level data for Asset-Backed Securities (ABS) and private whole loan portfolios. ED stores loan-level data and corresponding documentation for investors and other market participants. Operating as a market infrastructure and designated by the Eurosystem, ED aims to increase transparency and restore confidence in the ABS market. Through ED‘s data, users are able to analyse underlying portfolios in a more efficient way and compare portfolios on a systematic basis.

ED currently hosts data for more than 1160 public ABS transactions across Europe.

For the latest updates from European DataWarehouse, follow us on LinkedIn, Twitter or YouTube or visit ED website

Contact information

European DataWarehouse GmbH
Jasmin Abdel
Marketing & Communications Manager
Tel. +49 (0) 69 50986 9326
Email: jasmin.abdel-fattah@eurodw.eu

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