TAO Solutions of Canada joins ECBC
ECBC Strengthens its Global Membership ahead of Plenary Meeting in Vancouver in April
Brussels, 10 January 2018 - For immediate release
The European Covered Bond Council (ECBC) is pleased to announce that TAO Solutions of Canada has become the latest member to join the Council. As of January 2018, the ECBC represents 117 Members across more than 30 active covered bond jurisdictions around the world.
TAO Solutions is a global provider of software and services for structured finance and credit asset administration, providing, inter alia, industry-leading mortgage funding, securitisation and portfolio management services for the North American mortgage industry.
This latest addition to the ECBC’s membership comes ahead of the 27th ECBC Plenary Meeting, which will take place in Vancouver, Canada, 18 April 2018. The meeting is supported by the entire Canadian covered bond community, the World Bank Group, the European Bank for Reconstruction and Development (EBRD) and Euromoney Conferences, and it will focus on developments in global covered bond markets.
Commenting on TAO Solution’s accession to the ECBC, Luca Bertalot, ECBC Secretary General, said: “Having TAO Solutions on board reinforces the ECBC’s global membership and provides us with invaluable industry expertise on funding and portfolio management systems and the North American covered bond market.”
Aaron Seaton of TAO Solutions commented: “Having worked with many covered bond issuers to enable reporting efficiencies, we are thrilled to be accepted as a member of the ECBC and excited to support and to contribute to the important work of the Council. We are looking forward to a productive relationship and to meeting key covered bond industry stakeholders in Vancouver in April 2018.”
The Agenda of the ECBC Plenary Meeting in Vancouver is available here. More information about the ECBC and its membership can be found here.
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- Established in 1967, the European Mortgage Federation (EMF) is the voice of the European mortgage 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 c. 7.0 trillion EUR at the end of 2016. As of January 2018, the EMF has 16 members across 13 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 January 2018, the ECBC has 117 members across more than 30 active covered bond jurisdictions and many different market segments. ECBC members represent over 95% of covered bonds outstanding, which were worth c. 2.5 trillion EUR at the end of 2016.
- The Covered Bond Label 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. As of January 2018, the Label website features the Harmonised Transparency Template (HTT) and 14 National Transparency Templates, published by 95 issuers disclosing information on 112 labelled cover pools across 16 jurisdictions. The Covered Bond Label website currently provides issuance data on close to 4,300 covered bonds, amounting to a total face value of over 1.5 trillion EUR, out of which over 2,500 covered bonds already include information on the Liquidity Coverage Requirement (LCR).
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