European covered bond market closes

Market-making in the European covered bond market shut down for three days in late November, making it the latest form of fundraising to be hit by the turbulence in the financial markets.

The European Covered Bonds Council's (ECBC) 8-to-8 Market Makers and Issuers Committee, which was set up in late September to deal with market volatility, announced on November 21 that interbank market-making should be suspended temporarily until Monday, November 26. The committee took the decision "in light of