Franz-Josef Kaufmann - Eurohypo Franz-Josef Kaufmann was appointed as head of capital markets at Eurohypo in December 2004, having joined from Deutsche Bank where he spent more than seven years in group treasury. As head of issuance activities since 2000, he had been globally responsible for Deutsche’s capital market issuance. Prior to that, he served for more than six years in treasury at Eurohypo in Luxembourg, and for over four years in money market and foreign exchange trading at BfG Bank in

As the father of the jumbo covered bond market, German pfandbrief has a tradition to uphold in sustaining its prominence among the growing family of covered bond jurisdictions. Few will disagree, meanwhile, that an expanding list of covered bond issuers can only benefit the whole. While countries coming on stream may clearly not wish – nor need – to race toward frequent benchmark status, the new investors introduced to the product via the inception of a new jurisdiction can only feed back into t

IFR: liquidity is a perennial subject, but as the market grows and attracts an increasingly international investor base, perhaps it is something that periodically needs to be looked at again. What is the definition of liquidity? And should the market be looking at a greater level of integrity? Louis Hagen (VDP): Well, the minimum standards for a jumbo pfandbrief have been amended and brought up to €1bn. I think that really defines what both the issuers and market-makers think. And all the o