커버드 본드 시장의 활성화를 위한 현행 법제도의 개선방안 - 유럽의 법제도를 중심으로 -

Abstract

Covered Bond means a bond that has the recoursing right and the reimbursing right to by a third party in preference to cover pool collateralized by issuing company which had issured the covered Bond. These covered bond systems have the following advantages. That is to say, on the investor’s side, the Covered Bond is a qualifying collateral asset that is clearly distinguished from the other assets held by the issuing financial institution and is guaranteed the right to redeem the financial institution. On the issuer’s side, covered bond could also seek the emergence of a variety of investors in terms of the issuer’s financial institutions, efficient cost-based financing and diversification of financing methods. Furthermore, at the macroeconomic level, financial markets can be stabilized. Thus, the covered bond market in Europe continued to grow through policy implementation to enhance the stability of borrowing by financial institutions, as well as the readjustment of related systems and the establishment of a single European market. On the other hand, We cannot say that the covered bond market has matured in our country, yet. In response, this paper seeks to come up with measures to improve the current law so that it can contribute to the sound development of the financial market and the national economy by revitalizing the covered bond to improve the stable financing of financial institutions and the structure of household debt. In concrete method, I will first look at the current status of our covered bond and related several cases, types of the covered bond in Chapter 2, and then look at the European legal system in which the legalization cover bond is activated. Finally, based on this, I want to present methods to improve the legal system for the activation of the covered bond in Korea. As a result, I have presented some methods for timproving the current legal system.