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STREAM I (Auditorium III) -
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EXHIBITION AREAHosted by: CIBC -
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STREAM I (Auditorium III) -
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STREAM I (Auditorium III) -
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STREAM I (Auditorium III) -
- Networking
Hosted by: The Association of German Pfandbrief Banks (vdp) (Lunch will be available from 12:30 unti ... -
- STREAM I
STREAM I (Auditorium III)- Market and political volatility: aberration or the new norm?
- Brakes off! Funding Europe’s political reset
- The next 12 months: from political spectacle to real economic impact
- Rethinking asset relative value in the new economic paradigm
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- STREAM I
STREAM I (Auditorium III)- Still a safe haven? For buy side and sell side?
- How to price a covered bond: relative to govvies, swaps, agencies, bank senior bonds, securitisation, absolute yields…
- New needs, new assets: infrastructure, defence, public deficits, rebuilding Ukraine, developer loans, affordable housing and emerging markets…
- Supply and demand in 2026 – and what determines it
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- STREAM I
STREAM I (Auditorium III)- Welcome, stranger! Who are the new investors in covered bonds and what are they looking for?
- Opportunities and risks from a changing investor universe
- What is a covered bond worth…relative to rates and credit alternatives?
- What can we do better? Improving liquidity, issuer behaviour, trading conventions, education and transparency
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- STREAM I
STREAM I (Auditorium III)- HQLA? Can we justify the L?
- New players: the impact of credit investors and allocation policy
- Can I get a repo? Is that holding back liquidity?
- Trading platform state of play
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- STREAM II
STREAM II (Auditorium II)- New political priorities and their implications for ESG markets
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EU Green Bond Standards: do they help?
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Is the lower reporting burden problematic?
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Are investors impacted by the new political environment?
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- STREAM I
STREAM I (Auditorium III)- How many covered bonds should a bank issue?
- Scheduling issuance in a volatile year
- Impact of relative value changes on the funding mix
- Securitisation and covered bonds: complementary but…
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Hacienda El VizirAll registered Congress delegates are automatically registered for the Pre-Congress Party
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- Networking
EXHIBITION AREA -
- ROUNDTABLE STREAM
ROUNDTABLE STREAM (Club Room)Hosted by: LBBW
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A non-Eurozone perspective: navigating challenges and seizing opportunities
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EUR vs. global currencies: striking the perfect balance
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Covered bonds uncovered: unlocking their value in your asset mix
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The art of sequencing: aligning asset classes for maximum impact
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Facing the redemption wave: strategies for higher maturities ahead
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- ROUNDTABLE STREAM
ROUNDTABLE STREAM (Club Room)- What are the needs and where?
- Are covered bonds just for refinancing? Or part of the whole value chain?
- Addressing the affordability challenge: funding subsidised mortgages
- Pooling models, securitisations and covered bonds: how to make them work together?
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- ROUNDTABLE STREAM
ROUNDTABLE STREAM (Club Room)- EBA covered bond advice: what did they say? And what happens next?
- Final Basel III implementation: national differences and the global implications
- Common global rules? From investor treatment to issuance limits
- Securitisation and covered bonds: prospects for regulatory convergence?
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- ROUNDTABLE STREAM
ROUNDTABLE STREAM (Club Room)- AT1 - back to pre-Credit Suisse pricing?
- Is it okay to not call now?
- Are bank capital / senior spreads sustainable?
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- ROUNDTABLE STREAM
ROUNDTABLE STREAM (Club Room) -
- STREAM II
STREAM II (Auditorium II)Hosted by: DZ BANK- How much more covered bond supply can investors expect in the last quarter?
- Will the usual pressure on SSAs push covered bond spreads wider, or is this year different?
- What to expect from a pick-up in mortgage loan growth and a further uptick in redemptions in 2026?
- End of the ECB’s rates cycle: How attractive is the ultra-long end of the curve towards year-end?
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- STREAM I
STREAM I (Auditorium III)Hosted by: Crédit Agricole CIB
- How has the PRA shock announcement and then the pause impacted GBP markets for investors and issuers?
- Have there been repercussions in EUR markets from the PRA for UK and other third country issuers?
- What impact do issuers and investors expect the EBA report on third country equivalence to have on their funding and investing?
- Does the regulatory treatment really matter much these days given the return of central banks and more buying from real money?
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- STREAM II
STREAM II (Auditorium II)Hosted by: RBC
Market positioning and relative value – covered bonds vs. SSA and senior debt
- Relative value dynamics
- Issuance strategy differences
- Central bank influence
- Supply-side effects in 2025
- Investor base evolution
Regulatory and liquidity drivers
- Capital treatment and spread implications
- Liquidity retreat post TLTROs
- Comparative funding efficiency
Eurozone vs. non-Eurozone dynamics
- Diverging market structures
- Diversification and access
- Cross-border investor access
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- STREAM I
STREAM I (Auditorium III)Hosted by: Barclays
- EC’s proposal for securitisation regulation and European Commissions’ CfA
- Structural differences and similarities
- Rating agencies’ approaches to rating the two instruments
- Investors’ perspectives
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- STREAM II
STREAM II (Auditorium II)- What are the key trends and growth prospects in housing markets and mortgage loan origination?
- What role do covered bonds play in broader funding strategies?
- Analysing pricing and liquidity dynamics
- How is investor demand evolving? What are investor preferences?
- How are issuers integrating ESG credentials into their covered bond strategies?
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- STREAM I
STREAM I (Auditorium III)Hosted by: Moody’s Ratings
- Precautionary measures that prevent bank failure
- Resolution measures involving recapitalisation of an issuer or transfer of CB programme
- Insolvency measures involving transfer of a CB programme
- Insolvency or wind-down measures involving state guarantees / central bank liquidity
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- STREAM II
STREAM II (Auditorium II)Hosted by: NatWest
As the green and social covered bond market continues to mature, 2025 marks a pivotal moment in the structuring and positioning of these instruments within capital markets. This panel will explore the evolving dynamics shaping the market as we approach 2026, with a focus on:
- How issuers are adapting covered bond structures to meet evolving market expectations
- Investor demand and fund flows into green-labelled instruments
- Strategies for managing green asset portfolios and sourcing eligible collateral
- The relationship between emission factors and avoided emissions in impact reporting