'European Covered Bond Fact Book 2008'

[Editor's note: The book described below has now been superseded by the 2009 edition.]

When learning about covered bonds—and considering potential avenues of development for a market in the U.S.—it is very useful to understand how this financial product is being used in Europe today (and has evolved over centuries).  The “European Covered Bond Fact Book 2008” is published by the European Covered Bond Council (part of the European Mortgage Federation).  This 341 page tome is an absolute gem as a comprehensive source on this asset class.  

Although most of the chapters focus on the European market, the book goes well beyond the continental borders.   It contains an excellent chapter on the U.S. market, as well as three chapters on the rating agency methodologies for rating these bonds.  You will undoubtedly skim over many parts—but dive deep into selected topics of interest to you.  

To download a PDF of “The European Covered Bond Fact Book 2008” from the ECBC website, click here.