Jesper Berg: Realkredit og banker skal anlægge et bredere syn på market making på obligationsmarkedet. På en konference sagde Finanstilsynets direktør Jesper Berg bl.a., at ” The mortgage banks are the backbone in the Danish financial sector: * Delivering the majority of credit in Denmark. * Covered bonds is essential in liquidity management and investment in Denmark. • The long callable bonds act as an insurance for both the mortgage bank and the borrower payed by the borrower: * When interest rate increases they protect the borrower and thereby the bank against the drop in real-estate prices. * When interest rates goes down the borrowers ability to pay the bank is protected by the ability to refinance. • Thus the sector has to take a broader picture on market making than just the cost as long fixed rate callable bonds reduce the overall risk in the system and most of it is payed by the borrower.”
Morten W. Langer
