11 Jun, 2020 10:00 - 19:00 @ New York, United States
The Euromoney/ECBC Yankee FIG Investor Forum
Covered bonds – an essential in the bank funding toolkit?
Yankee FIG issuers can provide great value and diversification opportunities for bond investors but, more than ever, this is at the price of more credit and due diligence work to understand non-US banking systems and how they are changing. In Canada, Europe and beyond, banks face regulatory developments – usually designed to make their credit safer (often at the expense of a lacklustre share price performance), sometimes to create entirely new instruments such as preferred/non-preferred senior bonds or covered bonds.
The 2020 instalment of the Forum will bring together North American and global investors with US dollar issuers from international banks to examine the current trends and various opportunities in the Yankee FIG market. Our agenda will explore the changing regulatory and credit environments in the major jurisdictions for bank issuers of Yankee bonds and attempt to forecast supply and other trends over the coming months.
The agenda will have a particular focus on covered bonds and will seek to put the asset class into context for US dollar investors, by comparing the value of covered bonds with other banking funding products, such as securitisations and senior debt.
The day’s agenda will include an optional morning ‘covered bond briefing’ for investors who are new to the product, which will seek to explain the asset class, outline its basic principles and explore its underlying assets, as well as comparing it with the government mortgage agencies.
We will also take a specific look at the growth of the covered bond market in Canada, examining supply prospects and asking how the issuer as well as domestic investor base can be further expanded.
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