BNS prepares for SEC registered deal
Nearly a year after registering its covered bond programme with the US Securities and Exchange Commission, Canadian issuer Bank of Nova Scotia filed its prospectus. The move is a likely precursor to a dollar issue.
Brazil pushes for covered bonds
Brazil's finance ministry has confirmed with The Cover that it will publish proposals for a covered bond legal framework next week. The proposals are a part of an overall package which aims to free up the flow of credit. Bankers are hopeful that the timescale to implementation will be quick, but warn that many frameworks have failed to attract the attention of foreign investors, ostensibly due to oversights over minor details.
CBIC transparency agenda gets wings
The Covered Bond Investor Council has published a report which reviews progress in the field of transparency and makes recommendations. The report says there is still a clear need for data that is easily accessible, comparable, and which goes beyond the minimum requirements set by the ECBC Label.