Despite a somewhat boring appearance, many investors are flocking to the covered bond market as an alternative to bank bonds and asset-backed securities market. But are covered bonds the holy grail? Or are there legal and other risks that lurk in the mist? Some thoughts for a research paper below.
- http://www.treasury.gov.au/contentitem.asp?NavId=066&ContentID=2037 (Exposure Draft with submissions from market participants on the proposed covered bond legislation in Australia)
- www.coveredbondnews.com (subscription service)
- www.standardandpoors.com (various podcasts on covered bonds available for download, both generic and specific to the Australian covered bond market)