Representatives of the European Parliament and the Romanian Presidency of the Council of the EU reached a provisional political agreement on Tuesday night, 26 February, 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 basket of hedging assets over which investors have a preferential right in the event of default by the issuer.
The new framework, laid down by...