Protected: yes Effective: maybe

Covered bonds


The good news for the European covered bond market is that there have been a number of positive developments in recent months; the bad news is that virtually none of these has emanated from the German Pfandbrief sector which, as comfortably the largest of Europe’s covered bond markets, continues to cast a lengthy shadow over the asset class as a whole.

The issuance figures in 2002 for these heavily collateralised bonds tell the story plainly enough. According to figures published recently by

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here