The European Covered Bond Council’s labeling initiative needs a broader market take-up in order to meaningfully impact volumes, said analysts at Standard &Poor’s.

The ECBC established the covered bond label foundation in 2012. At this stage, 14 national transparency templates, 66 issuer profiles and information on 80 labeled cover pools with issuance data on over 4,000 covered bonds amounting to a total face value of over €1.4 trillion ($1.8 trillion) are available to the market, according to the ECBC website.

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