Search results for covered bond
Finance
Banking gaps in fund management, reverse mortgage processing spark calls for reform
South Korea’s National Assembly steering committee raised issues during an audit over how public institutions place deposits with regional banks, differences among banks in the time needed to disburse reverse mortgage loans, and funding constraints for long-term fixed-rate mortgages. Lawmakers urged changes to criteria for selecting transaction banks to support regional finance, steps to shorten reverse mortgage payment procedures, and reforms to help banks secure long-term funding, including measures to invigorate the covered bond market.
Finance
KB Kookmin Bank issues 650 million euro sustainable covered bond
KB Kookmin Bank issued a 650 million euro sustainable covered bond and set the spread at 24 basis points, 12 basis points lower than a same-tenor issue last year. The bank said it completed the 4-year euro sustainable covered bond sale on Sept. 14. The bond yields 3.625%, adding 0.24 percentage points to the 4-year euro mid-swap rate. The bank said demand reached about 1.5 times the issue size.
Finance
Digital asset institutionalisation picks up pace as big platforms clash over entry into online lending industry
Cooperation between traditional financial firms and crypto-asset operators is expanding, with moves by Kakao Group, brokerages and exchanges. In the United States, the OCC gave preliminary approval to two digital banks pursuing crypto custody and stablecoin business. In South Korea, the Democratic Party plans to draw up a Digital Asset Basic Act this year. Competition is also shifting across platform finance, raising questions about entry rules, conflicts of interest, consumer choice and security.
