NO.PZ2023120801000126
问题如下:
Upon a bankruptcy affecting a covered bond, the firstavailable safeguards to protect against potential losses are the:
选项:
A.
ringfenced loans
B.
unencumbered assets of the issuer
C.
assets added by the collateral manager during ramp-up
解释:
Correct Answer: A
In the case of bankruptcy covered bond investors, they have dualrecourse with the first safeguard being the ringfenced loans in the cover poolthat underlie the covered bond transaction. B is incorrect because while investorsalso have recourse to the unencumbered assets of the issuer, those serve as asubsequent safeguard. C is incorrect because this post-transaction contributionis characteristic of the non-amortizing structure of a CDO (collateralized debtobligation).
Covered bond 的asset pool是由谁来维护的?是issuer自己么?