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Glossario

Types of bonds coverage | Tipi di copertura obbligazionaria

Categoria — Tipi di obbligazioni
Bonds coverage is a pledge (property, financial resources, securities) which fully or partially secures the fulfillment of obligations under the bonds and provides the holder with all the rights arising from such security.

Types of bonds coverage. The following assets can act as collateral for bonds:

1. Securities issued or guaranteed by states, central banks, public companies, regional or local authorities, international development institutions and other international organizations.
2. A pool of mortgage loans secured by residential or commercial real estate, as well as a pool of other loans, for example, loans issued for cars, consumer purposes, pending payments on credit cards or accounts.
3. Maritime lien on ships. This deposit includes both the vessel itself and auxiliary structures and equipment on it.
4. Equipment. Most often used by transport (aviation and rail) companies. At the same time, the size of the loan to be repaid exceeds the amount of depreciation for the equipment, so the longer the bonds circulate, the more reliable they become due to the fact that over time the residual value of the equipment more and more exceeds the residual value of the loan.
5. Mortgages for real estate, that is, the security is registered securities covered by real estate. At this time, it is rarely used, mainly in the gas industry and the electricity supply in the United States.
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