Event name

The Euromoney/ECBC Asian Covered Bond Forum 2019

12 March 2019
Singapore, Singapore

Sponsors

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Co-Host

EMF-ECBC
GlobalCapital

Lead Sponsor

LOGO - DBS - 2nd Tier - DO NOT USE
LOGO - GOLDMAN SACHS - 2nd Tier - DO NOT USE
Norddeutsche Landesbank Girozentrale

Coffee Break Sponsor

LOGO - Hypoport - 3rd Tier - DO NOT USE

Association Partner

The Association of Banks in Singapore

Event Overview

The 6th annual Euromoney Asian Covered Bond Forum took place against the backdrop of significant developments in both the oldest and newest covered bond jurisdictions.

In Europe, the new covered bond directive opens up the possibility of mutual recognition rules for Asian covered bonds bought by European investors. Valeria Miceli of the European Commission explained the implementation process and a likely timeline for the new rules. The news from Alan Yeo of the Monetary Authority of Singapore - another keynote speaker - that covered bonds there are likely to soon become eligible repo collateral and that they would soon adopt a higher disclosure standard was a clear step in the direction of a regime that would be acceptable to the European Commission. The end of the ECB’s third covered bond purchase programme and the strong appetite for covered bonds that has emerged in Europe this year was another important theme from the older covered bond markets.

Another event featuring prominently in discussions was in the newest covered bond market in the world: Japan. The structured covered bond recently issued by Sumitomo Mitsui was described at great length, whether it will be a catalyst for changes to Japanese insolvency law, or even a covered bond law, and whether it would be a precedent that would be adopted in other countries were topics for much speculation. Other new jurisdictions, such as Malaysia were also anticipated by many speakers. The final panel of the day focussed on the practicalities of establishing a new covered bond market drawing on the panellists experiences on a global scale.

But the existing Asian covered bond markets were not neglected. On the first panel of the day – reviewing the state of the Singaporean market, it was pointed out that the market there was not even half way to its expected ultimate size of circa €30bn. Furthermore there was speculation about the possibility of domestic currency issuance from some of the new issuers expected to come to market. Similarly in the other established Asian market, Korea, delegates heard Matthew Gim of Kookmin bank describe the prospects for significantly higher issuance levels in response to governmental support for the product.

New issuance from established and new jurisdictions and improved regulatory and market conditions all underpinned a successful and upbeat conference.

Speakers

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Keynote Speaker

Alan Yeo

Executive Director, Financial Markets Development Department
Monetary Authority of Singapore

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Keynote Speaker

Valeria Miceli

Policy Officer
European Commission

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Niek Allon

Chairman
European Covered Bond Council (ECBC)

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Morten Baekmand Nielsen

Head of Investor Relations
Nykredit

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Ruth Beddows

Managing Director
GlobalCapital

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Luca Bertalot

Secretary General
EMF-ECBC

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Colin Chen

Managing Director
DBS Bank

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Yukio Egawa

Chief Strategist, Head of Research Division
Shinsei Securities

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Matthew Gim

Head Of Treasury Team
Kookmin Bank

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Sami Gotrane

Managing Director
SFIL

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Claire Heaton

Senior Director - Covered Bonds
Fitch Ratings

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Richard Kemmish

Editorial Consultant
Euromoney Conferences

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Chin Chin Koh

Managing Director
United Overseas Bank Ltd

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Sascha Kullig

Head Of Capital Markets
VDP

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Chung Chee Leong

President and Chief Executive Officer
Cagamas Berhad

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Yasuhiro Matsui

Director General, Treasury Department
Development Bank of Japan Inc.

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Matthew McCalman

Director, Singapore Investment Desk
TD Securities

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Matthias Melms

Senior Director
NORD/LB

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Eldar Mezbur

Head of Covered Bonds
Goldman Sachs International

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Goetz Michl

Head Of Funding & Debt Investor Relations
PBB Deutsche Pfandbriefbank

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Yusuke Minowa

Vice President, Financing Group
Goldman Sachs

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Atsushi Ouchiyama

Senior Vice President
SMBC

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Peter Pellicano

Regional Treasurer, Asia
Lloyds Banking Group

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Jacco Samuels

Managing Director
Hypoport

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Rafael Scholz

Long Term Funding
Muenchener Hypothekenbank eG

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Carsten Tegtmeier

Head of DCM
NORD/LB

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Bill Thornhill

Covered Bond Editor
GlobalCapital

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Nam Yeoh Hong

Head of Corporate Treasury, Finance
DBS Bank

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Videos

ECBC Investor Roundtable

Wednesday 13 March 2019

The sixth edition of the ECBC Asian Covered Bond Symposium will be held on 11-13 March 2019 in Singapore.   

In particular, the ECBC Covered Bond Investor Roundtable, will take place on 13 March 2019.

As you may be aware, over recent years this event has been used to help disseminate the covered bond asset class amongst Asian investors, especially central banks, and allow us to offer leadership in terms of the legislative developments in the region, thereby ensuring the close alignment of such developments to the core characteristics of the European model.

Please check the ECBC website for further updates.

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The Euromoney/ECBC Asian Covered Bond Forum

06 February 2018
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Ahead of the Euromoney Asian covered bond forum in Singapore next month some thoughts about what makes Asian covered bonds different.

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