Covered Bonds vs Securitisation

Covered Bonds vs Securitisation

Richard Kemmish

30 years: Capital markets & covered bonds

Covered bonds and securitisations have a lot in common, but they are also very different in some important ways. In this video, Richard discusses the similarities and the differences, between the two products, in terms of their uses, structure and regulation.

Covered bonds and securitisations have a lot in common, but they are also very different in some important ways. In this video, Richard discusses the similarities and the differences, between the two products, in terms of their uses, structure and regulation.

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Covered Bonds vs Securitisation

10 mins 7 secs

Overview

Covered bonds and securitisations have a wide array of similarities. For example, they both utilise residential mortgages as their principle asset for covered bond collateralisation. However, they are also very different in terms of their structure, regulatory treatment and uses.

Key learning objectives:

  • Identify similarities

  • Outline the differences in structure, performance, uses, asset eligibility and regulatory treatment

  • Explain why securitisations require less over-collateralisation

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Summary
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Expert
Richard Kemmish

Richard Kemmish

Richard is a consultant working mainly in the covered bond market. He helps Finance Ministries and Central Banks in countries without covered bond laws to put legal frameworks in place. He has also helped the European Commission with their legislative agenda for covered bonds and related products.

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