News & Analysis: trading and investing

In late July of this year, Covered Bond Investor™ briefly noted the fact that a French covered bond issuer, CFF (Compagnie de Financement Foncier) had applied to the Securities and Exchange Commission (SEC) for an order exempting CFF from provisions of the (U.S.) Investment Act of 1940 in connection with the offer and sale of its securities in the U.S.

A notice in the Federal Register (July 28) stated:

Germany's Eurohypo and Spain's Banesto price jumbo covered bond issuances ... Moody's looks at a proposal for covered bond legislation in Australia ... UBS plans to become a covered bond issuer ... and more.

Some items of covered bond news do not rate their own story in this publication—often because they relate to geographic areas outside our focus, North America.  Even so, readers who want to keep up with covered bond news in general might find them interesting.

The following is a public announcement from Eurex Bonds:

On Monday, 20^th July 2009, Eurex Bonds launched the new market model "auctions" for Covered Bonds and Government Guaranteed Bonds in a pilot scheme. The innovative approach, established in close consultation with dealers, vendors and covered bond organisations, captured the attention of media and market participants.

Chris KenyonWhen Chris Kenyon's paper, "Pricing Covered Bonds (version 1.09)" hit the Internet in June, it spent quite a while on Google's Page One of search results under "covered bonds."