The Euromoney/EBRD/ECBC CEE Covered Bond Forum

“Finally there is an event which focuses exclusively on the emerging but potentially very promising covered bond market in the CEE. Anyone who wants to see what is happening in this sector should attend this event as it gives a fantastic overview of the key markets and most important issues”
Piotr Kowalski, President of the Management Board, Fitch Polska S.A.

Keynote Speaker:
 

András Simor, Senior Vice President, Chief Financial Officer and Chief Operating Officer, European Bank for Reconstruction and Development (EBRD)

Euromoney is delighted to announce the return of its CEE Covered Bond Forum, co-hosted with the EBRD and the ECBC, on Tuesday 23 May in London. Last year’s debut event attracted 100 issuers, investors, authorities and regulators.

The recent debut benchmark covered bonds from issuers in Poland and Turkey were resounding successes. Investors, starved of yield in the more traditional covered bond markets, flocked to the new issues, rapidly getting comfortable with the new structural and legal features they ensured over-subscribed books and a highly attractive cost of funding for the issuers.

But these transactions are the tip of the iceberg. Regulators in many countries in the Central and Eastern European region are concerned about the reliance of their banking system on both foreign parental funding and retail deposits – sources of funding that are vulnerable to the ever more frequent systemic shocks. Seeing the appetite of western European investors for these debut deals, several countries in the region are either writing covered bond laws from scratch, rewriting existing but unused laws to make them viable, or upgrading their existing laws to make them compatible with best practice in more established markets. There are at least six jurisdictions in the region that have either just passed new laws or are actively working on them. 

At the same time the new EBA guidelines and the possible Covered Bond Directive will make it both easier and more necessary to upgrade covered bond laws in the existing markets.

“This event leaves you feeling that you have been in the right place at the right time surrounded by the right people. It takes you through where the covered bond community stands today and where it may head in future.”
Fatih Saglik, Deputy Head of Institutional Investors Department, Capital Markets Board of Turkey

These markets offer exciting opportunities for investors, investment banks and issuers. They raise important questions about structuring, swaps, how to incorporate national specificities with European best practice and the regulatory and prudential framework that is needed. We will consider all of these topics with regulators, issuers and intermediaries in our second annual CEE Covered Bond conference.

If you are interested in learning about the sponsorship opportunities for the 2017 conference, please contact Andrew Lennon on +44 20 7779 8043 / alennon@euromoneyplc.com. For speaking opportunities, please contact Francesca Cockcroft on +44 20 7779 8082 / fcockcroft@euromoneyplc.com.