First multi-jurisdictional public sector covered bond programme
Originality
6
Rationale
6
Impact
7
Total
19
Description
The firm created a structure that would enable BNP Paribas to access funds following inaccessible capital markets. Difficulty was setting up a French covered bond programme to operate across multiple jurisdictions
A hardwired set of conventions for CDS is a vital element of the new financial environment. The conventions streamline CDS disputes, removing the risk and uncertainty around these products
