Member States' ambassadors to the EU (Coreper) reached a political agreement in principle on Wednesday 28 November on the proposal to create a European label for covered bonds (see EUROPE 11979).
As a reminder, a covered bond is a debt issued by a credit institution and guaranteed by a separate pool of hedging assets to which investors have a preferential claim in case of failure of the issuer.
Overall, the Council's position reflects the main elements of the Commission's proposal,...