About

The European Mortgage Federation - European Covered Bond Council (EMF-ECBC)


Established in 1967, the European Mortgage Federation (EMF)  is the voice of the European mortgage industry, industry, representing the interests of mortgage lenders and covered bond issuers at European level. The EMF provides data and information on European mortgage markets, which were worth over EUR 8.9 tn at the end of 2022 (EU27 + UK, Norway and Iceland). As of April 2024, the EMF has 13 Full Members across 11 EU Member States as well as a number of Observer Members.
 
In 2004 the EMF founded the European Covered Bond Council (ECBC), a platform bringing together covered bond issuers, analysts, investment bankers, rating agencies and a wide range of interested stakeholders. As of April 2024, the ECBC has over 120 members from across the more than 30 active covered bond jurisdictions and many different market segments. ECBC members represent over 95% of covered bonds outstanding, which were worth over EUR 3 tn at the end of 2022.
 
The Covered Bond Label Foundation (CBLF) was established in 2012 by the EMF-ECBC. It is a quality Label which responds to a market-wide request for improved standards and increased transparency in the covered bond market. The website features the Harmonized Transparency Template (HTT) and 14 National Transparency Templates, published by 141 issuers disclosing information on 177 labelled cover pools across 25 jurisdictions. The Covered Bond Label website currently provides issuance data on over 5,700 covered bonds, amounting to a total face value of around EUR 2.35 tn.
 
For the latest updates from the EMF-ECBC, follow us on X, LinkedIn and YouTube or visit the EMF-ECBC.