Perfectly balanced
Unique features have insulated the Danish market against the credit problems recently suffered by world economies. Despite the relaxation of legislation governing the sector, Denmark's lenders say they are keen to stick to the old secrets of their success. Han-Nee Tay reports
Danish mortgage lenders are quick to point to history to illustrate that their way of doing things has withstood the test of time. Since the first covered bond was issued in 1797 in Denmark, the industry has provided an investment asset that is on a par in terms of safety with a government bond, has been popular with a robust local investor base and has been a source of low-cost funding for the sector. More recently, Danish mortgages have escaped virtually unscathed from the world credit markets
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