Abstract
Covered bonds are an important vehicle for long-term funding of mortgages and present a safe investment due to their dual recourse structure. The latter is the main reason they trade at only a slight premium over sovereign bonds, and provide banks cheap access to mortgage funding. The covered bond market has been considered impeccable in terms of both, risk and pricing (e.g., Anand, Chapman, & Gai, 2012).
This Section is co-authored by Joachim Zietz.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2018 Springer Fachmedien Wiesbaden GmbH
About this chapter
Cite this chapter
Markmann, H. (2018). Medium-term Impact on the Secondary Market. In: Covered Bonds under Unconventional Monetary Policy. Essays in Real Estate Research. Springer Gabler, Wiesbaden. https://doi.org/10.1007/978-3-658-20975-9_5
Download citation
DOI: https://doi.org/10.1007/978-3-658-20975-9_5
Published:
Publisher Name: Springer Gabler, Wiesbaden
Print ISBN: 978-3-658-20974-2
Online ISBN: 978-3-658-20975-9
eBook Packages: Business and ManagementBusiness and Management (R0)