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EUR Covered Bond Supply

FINANCIALS


  • January saw a record EUR 40.7bn in EUR covered bond supply.
  • The bulk of issuers were from France (EUR 13.5bn) and Germany (EUR 10.5bn), with a notable shift towards longer maturities.
  • We’ve seen comments from ING that they expect Feb supply to drop to EUR 15.75bn, against a 2024 forecast of EUR 175bn (EUR 13bn less than 2023 due to slow mortgage lending). They expect Q1 to remain active on the back of March TLTRO repayments.
  • See the below charts for summary statistics by country and tenor.


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