| REGIONAL SESSIONS|
U.K | FRANCE | DENMARK | GERMANY | NETHERLANDS | SPAIN | ITALY
|| LOCATION: Medinacelli II |
SESSION START: 1300-1430 (1.5 hours)
MODERATOR: Arjan Verbeek, Moody's Investors Service
TEAM MANAGER: Torben Gjede, Director General, Realkreditrådet
|1300-1310 ||INTRODUCTION TO THE DANISH MARKET, A MODEL OF EFFICIENCY FOR EUROPE|
Torben Gjede, Director General, Realkreditrådet (Association of Danish Mortgage Banks)
The Danish mortgage market and Danish mortgage bonds comprise one of the strongest, oldest and most stable markets in Europe, relative to the size of the Danish economy. Torben Gjede focuses his introduction on the evolution of the market and how it functions today.
||THE LEGAL FRAMEWORK
Torben Garne, Director, Danish Ministry of Economic and Business Affairs
Danish mortgage bonds are supported by a complex and sophisticated regulatory system. Torben Garne, who directs initiatives encompassing the Danish mortgage bond program, offers an easily understood overview of the system.
||HIGHLY SECURE FINANCIAL INVESTMENTS
Arjan Verbeek, Vice President, Structured Finance Group, Moody's Investors Service
In May 2002 Moody's issued a definitive report on the Danish mortgage market, characterising Danish mortgage bonds as a very strong, low-risk financial instrument. Arjan Verbeek, lead author of the report, explains his research, its relevance and his conclusions.
||THE MORTGAGE BUSINESS IN PRACTICE
Søren Holm, Executive Vice President, Nykredit
Nykredit, a leading financial institution in Scandinavia, is the second-largest mortgage bank in Denmark incorporating both commercial banking facilities as well as insurance and real estate activities. In this presentation Søren Holm gives an overview of Nykredit's mortgage banking business.
||MORTGAGE BOND ADMINISTRATION
Johannes Luef, Chief Executive Officer, Værdipapircentralen A/S (VP Securities Services)
Denmark was the first country in the world to introduce the electronic clearing and settlement of mortgage bonds, through the creation of VP Securities Services. In this presentation, Johannes Luef explains VP's practices, capabilities and experience.
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