European Banking Association


  • Has been promoting covered bonds issued by the Association's member banks for ten years
  • Established the Association's Tokyo liaison office and has been serving as its Tokyo representative for over a decade
  • Implemented government relations and IR activities to lead opinion about covered bonds
  • Lobbied to launch a covered bond market in Japan
  • Did IR, seminars, presentations, and PR targeting over 800 institutional investors
  • Developed strong relations with financial authorities, other banks, and relevant associations in support of its lobbying activities
  • Negotiated with the FSA to gain approval for member banks to operate in Japan and lobbied for broader interpretation of “banking business” under the Japanese Banking Act
  • Successfully promoted Pfandbrief to the BoJ, MoF, Yucho Bank, and the Government Pension Investment Fund

As a result, the association

  • Saw the share of Japanese investors in global jumbo issues for member banks increase
  • Got METI, FSA, MIC, and MoJ to study establishing a Japanese covered bond market patterned after that in the U.S.
  • Successfully negotiated with the FSA for member banks entering Japanese market

and the member banks

  • Advised business entities on entering the Japanese market
  • Attracted institutional investors, pension funds, and government and quasi-government investment funds to their new issues
  • Developed and implemented specific IR programs