Wednesday, September 2nd, 2015
10:49 AM
Registration and Breakfast

10:49 AM
Chairperson and Host’s Opening Remarks

9:00 AM
The Outlook for Covered Bonds in 2012 Amidst Market Macro-Volatility
• Predicted demand for 2012 and beyond • Sovereign and political risk and the effect on investor appetite for covered bonds and on pricing • Impact of the ECB’s CBPP 2.0 • Where are the limits of growth? [i.e. structural subordination, availability of collateral, regulatory intervention though issuance limits] • Impact of CRD 4 regulations on the market • Investors’ views on the market • Are Covered Bonds becoming finally truly global? [Demand/Supply from US and Pacific Region]

  • Steffen Dahmer, Executive Director, Syndicate and Product Manager Covered Bonds, J.P. MORGAN SECURITIES PLC FRANKFURT BRANCH (Moderator)
  • Jens Tolckmitt, Chief Executive Officer, ASSOCIATION OF GERMAN PFANDBRIEF BANKS
  • Bob Penn, Partner, ALLEN AND OVERY
  • Derry Hubbard, Global Head FIG Syndicate, BNP PARIBAS UK
  • Armin Peter, Head of EMEA Syndicate, UBS
10:00 AM
A Regulatory Update on the Global Covered Bonds Market
• The role of government in providing banks with liquidity • Impact of recent legislative and regulatory initiatives on the covered bond market • Examining asset encumbrance rulings and impact on how much paper an entity can issue • Legislation affecting rating agencies and their response • Emerging legislation in new markets: the US, Australia and New Zealand • Impact of Solvency II regulations on the market

  • Peter Voisey, Partner, CLIFFORD CHANCE LLP (Moderator)
  • Tracy Alloway, US Financial Correspondent, THE FINANCIAL TIMES
  • Klaus Kristiansen, Executive Vice President, REALKREDIT DANMARK
  • Jay Surti, Senior Economist, INTERNATIONAL MONETARY FUND
  • Charles Gundy, Senior Advisor, THE BANK OF ENGLAND
  • Volker Gulde, Vice President - Senior Credit Officer, MOODY'S INVESTORS SERVICE
11:00 AM
Refreshment Break in Exhibition Area

10:49 AM
Keynote Address

  • Mattias Persson, Senior Vice President, Head of Group Funding, NORDEA BANK AB
Concurrent Tracks “A” and “B” Commence *Track B to be hosted in roundtable format

12:00 PM Track A
Track A Assessing Relative Value: Research Analysts’ Roundtable
• How have structures evolved? • How do the CB newcomers compare with the mature CB issuers? • Does structure matter? • Is there consistency and value in the secondary market? • Have we made any progress on transparency (analytics, valuation, surveillance)? • Relative value views

  • Bill Thornhill, Editor, THE COVER (Moderator)
  • Florian Hillenbrand, Senior Covered Bond Analyst, UNICREDIT
  • Heiko Langer, Senior Covered Bond Analyst, BNP PARIBAS
  • Flavio Marco Rusconi, Vice President, JP MORGAN
  • Fritz Engelhard, Director, BARCLAYS CAPITAL
12:00 PM Track B
Track B Roundtable Discussion: Outlook for the Overseas Covered Bond Markets- North America
• Assessing the logic behind USD issuance; What makes this market attractive? • Complying with SEC regs and overcoming other issuance obstacles; • Alternative structures to overcome 144A restrictions • What are foreign issuers in the US markets looking to achieve?

  • Lawton Camp, Partner, ALLEN & OVERY LLP
  • Julia Hoggett, Managing Director Head of Covered Bonds & FIG Flow Financing EMEA, BANK OF AMERICA MERRILL LYNCH
  • Chris Fernando, Director, UBS AG
  • Vanessa Purwin, Senior Director, FITCH RATINGS
  • Ben Colice, Head of Global Covered Bond Origination, RBC CAPITAL MARKETS
10:49 AM
Delegate Luncheon in Exhibit Area

Concurrent Tracks “A” and “B” Commence *Track B to be hosted in roundtable format

10:49 AM Track A
Track A Transparency in the Covered Bonds Market
• What do investors require and what are issuers currently willing to disclose? • Standards for disclosure and post-deal reporting and how issuers are meeting these criteria • Privacy issues concerning loan level data disclosure • Post-bankruptcy procedure • Comparing the legal frameworks across European jurisdictions • Regulator’s view on transparency initiatives

  • Sally Onions, Partner, ALLEN & OVERY LLP (Moderator)
  • Gary Staines, Director, Asset Backed Solutions, LLOYDS BANK
  • Jose Antonio Trujillo, Chief Executive Officer, INTERMONEY
  • Sascha Kullig, Head of Capital Markets, ASSOCIATION OF GERMAN PFANDBRIEF BANKS
  • Francesca Segurini, Senior Associate - Lawyer, CLIFFORD CHANCE
  • Karlo Fuchs, Senior Director, Structured Finance, STANDARD & POOR'S RATINGS SERVICES
10:49 AM Track B
Track B Roundtable Discussion: The German Pfandbrief
• Assessing the importance of a domestic investor base; What difference does it really make? • Has the buying behaviour of German investors changed during the crisis? • What needs to happen to make the public sector lending business attractive again? • Have pfandbrief issuers caught the peripheral covered bond market’s cold? Contagion effect of sovereign woes in Europe

  • Peter Scherer, Partner, CLIFFORD CHANCE
  • Rafael Scholz, Head of Treasury, MUENCHENER HYPOTHEKENBANK
  • Bodo Winkler, Head of Investor Relations and Credit Treasury, BERLIN HYP AG
  • Götz Michl, Head of Funding, DEUTSCHE PFANDBRIEFBANK AG
  • Martin Schulze Elfringhoff, Director, UNICREDIT CORPORATE & INVESTMENT BANKING
10:49 AM Track A
Track A Diversifying the Investor Pool and Improving Liquidity in the Secondary Markets
• Where are pricing and spreads going amidst the instability of the euro? • What impact with the ECB purchase programme have on spreads? • How well evolved is the investor base? • How to attract investors back to the market • Assessing foreign investor appetite

  • Julia Hoggett, Managing Director Head of Covered Bonds & FIG Flow Financing EMEA, BANK OF AMERICA MERRILL LYNCH (Moderator)
  • Daniel Loughney, Portfolio Manager, ALLIANCEBERNSTEIN FIXED INCOME
  • Jozef Prokes, Covered Bond Portfolio Manager, BLACKROCK
  • Roger Kuntsche, Executive Director, Covered Bond Trading, J.P. MORGAN
10:49 AM Track B
Track B Roundtable Discussion: The Nordic Markets
• Mortgage trends in the various Nordic markets • Importance of domestic markets in Denmark and Sweden • Is the Nordic market still seen as a safe haven from pan-European volatility, and what have been the special features of the region that built that reputation?

  • Armin Peter, Head of EMEA Syndicate, UBS
  • Casper Andersen, Director, Structured Finance, STANDARD & POOR'S
  • Claus Jensen, Chief Funding Manager, DANSKE BANK
  • Lauri Iloniemi, Managing Director, OP MORTGAGE BANK
  • Trond Marthinsen, Treasury - Funding, DNB NOR
  • Klas Axelman, Director, LANSFORSAKRINGAR AB
10:49 AM
Refreshment Break in Exhibition Area

10:49 AM
The Bright Spot on the Horizon: Update on the Pacific Rim Markets
• Issuer strategy for attracting US and Euro investors • Comparing the US Dollar and Euro markets appeal • Assessing local covered bonds investor appetite for foreign covered bonds

  • Ted Lord, Managing Director & Head of Covered Bonds, BARCLAYS CAPITAL (Moderator)
  • Ignacio Cortes, Director, Debt Securities, WESTPAC BANKING CORP
  • Christopher Walsh, Partner, CLIFFORD CHANCE
  • David Carroll, Director, FITCH RATINGS
  • Franz Rudolf, Managing Director, UNICREDIT CORPORATE & INVESTMENT BANKING
  • Seungho Baek, Portfolio Manager, BANK OF KOREA
  • Chandra Gopinathan, Senior Consultant, ROGGE GLOBAL PARTNERS
10:49 AM
Day One of the 5th Annual Global Covered Bonds Conference Concludes and Networking Cocktail Reception Commences on 30th Floor. Sponsored by:


Wednesday, September 2nd, 2015
10:49 AM
Registration and Breakfast

9:00 AM
Continued Investment in Covered Bonds? Investors’ Relative Value Roundtable
• Investor concerns on supply/demand fundamentals, spreads and issuer tiering • Views on market safety, transparency, performance • Views on underlying credits and collateral • What do investors look for in an issuer of covered bonds?

  • Tim Skeet, Managing Director, RBS (Moderator)
  • Georg Grodzki, Head of Credit Research, LEGAL AND GENERAL INVESTMENT MANAGEMENT
  • Jozef Prokes, Covered Bond Portfolio Manager, BLACKROCK
  • Olaf Pimper, Group Treasury - Liquidity Portfolio Management, COMMERZBANK AG
  • Gareth Davies, Managing Director , J.P. MORGAN
10:00 AM
Keynote Presentation: The Sovereign Debt Crisis in Europe and Its Potential Impact on the Global Debt Capital Markets

  • Louisa Bojesen, Anchor, CNBC
  • Robert Parker, Global Head of the Strategic Advisory Group, CREDIT SUISSE ASSET MANAGEMENT
10:49 AM
Networking Refreshment Break in Exhibit Area

11:00 AM
Issuers’ Strategy Roundtable
• Do covered bonds still make sense as a funding tool? A look at current funding costs, diversification opportunities and currencies issued • When will current issuers reach capacity? A look at asset encumbrance rules and current levels • Assessing investor appetite for new issue covered bonds and secondary market liquidity • Transparency issues and disclosure requirements • Issuing in euros vs. dollars; cost vs. benefit comparison

  • Salim Nathoo, Partner, ALLEN & OVERY LLP (Moderator)
  • Rafael Scholz, Head of Treasury, MUENCHENER HYPOTHEKENBANK
  • David Wallis, Head of Funding, NATIONWIDE BUILDING SOCIETY
  • Henry Raymond, Président Directeur Général, CRH-CAISSE DE REFINANCEMENT DE L'HABITAT
10:49 AM
Rating Agency Developments for the Covered Bonds Sector
• Implications of an unstable and weakened sovereign rating for covered bonds in the peripheral jurisdictions

  • Horst Bertram, IR Consultant, INDEPENDENT CONSULTANT (Moderator)
  • Keith Gorman, Senior Vice President, DBRS
  • Nick Lindstrom, Associate Managing Director, MOODY'S INVESTORS SERVICES
  • Sabrina Miehs, Director, STANDARD & POOR'S
  • Cosme de Montpellier, Senior Director, FITCH RATINGS
10:49 AM
The 5th Annual Global Covered Bonds Conference Concludes

Event Contacts
Senior Vice President, Conference Producer
Jade Friedensohn
(212) 901-0560
jfriedensohn@imn.org
Investor and Issuer Relations
Caitlin Fitzpatrick
(212) 224-3530
caitlin.fitzpatrick@imn.org
Head of Sales - Structured Finance
Chris Keeping
(212) 901-0533
ckeeping@imn.org
VP, Sponsorship Management
Ashley Hofmann
(212) 901-0562
ahofmann@imn.org
Venue
Clifford Chance LLP

10 Upper Bank Street Canary Wharf
London, E14 5JJ,
England


PLEASE DO NOT CALL CLIFFORD CHANCE WITH ANY INQUIRIES. ALL QUESTIONS SHOULD BE DIRECTED TO IMN - 212-768-2800. Please note that Clifford Chance does not have storage space for luggage. Please make the necessary arrangements to have your luggage stored at an alternate location.

Hotels
Travel Inn Capital Hotel


London, ,
England

Please note that this is a suggested hotel. IMN does not have a contracted rate and cannot guarantee availability.

Phone: 44 (0) 870238 3322
Website: http://www.travelinn.co.uk

Crowne Plaza Docklands

Western Gateway, Royal Victoria Dock
London, E16 1AL,
England

Please note that this is a suggested hotel. IMN does not have a contracted rate and cannot guarantee availability.

Phone: 44 (0) 870 990 9692
Website: http://www.holidayinndocklands.co.uk

Sunborn Yacht Hotel

Royal Victoria Dock
London, E16 1XL,
England

Please note that this is a suggested hotel. IMN does not have a contracted rate and cannot guarantee availability.

Phone: 44 (0) 20 7059 9100
Website: http://www.sunbornhotels.com

Hilton London Docklands

Nelson Dock, 265 Rotherhithe Street
London, SE16 5HW,
UK

Please note that this is a suggested hotel. IMN does not have a contracted rate and cannot guarantee availability.

Phone:
Website: http://www.hilton.co.uk/docklands

Four Seasons Canary Wharf

46 Westferry Circus, Canary Wharf
London, E14 8RS,
UK

Please note that this is a suggested hotel. IMN does not have a contracted rate and cannot guarantee availability.

Phone: 44 (20) 7510 1999
Website: http://www.fourseasons.com/canarywharf/index.html

London Marriott West India Quay

22 Hertsmere Rd, Canary Wharf
London, E14 4ED,
England

Please note that this is a suggested hotel. IMN does not have a contracted rate and cannot guarantee availability.

Phone: 44 20 70931000

Lead Sponsors
Partners
Patron Sponsors
Associate Sponsors
Exhibitors
Cocktail Reception Sponsor
Event Supporters
Lead Media Partners
Media Partners