Survey on sovereign bond-backed securities

In 2016, the ESRB General Board commissioned a High-Level Task Force on Safe Assets to investigate the practical considerations relating to the creation and implementation of sovereign bond-backed securities (SBBS).

As part of its investigation, the Task Force gathered input from market participants and other stakeholders. A survey was published in December 2016, giving interested parties the opportunity to comment on the design of SBBS. The results of that survey are reported in “Sovereign bond-backed securities: a feasibility study, Volume II: technical analysis”, published by the Task Force in January 2018.

Background to survey

The context of the survey and the approach taken by the Task Force are described in the Background document


Any questions concerning the survey should be addressed to safeassets@esrb.europa.eu


The ESRB organised a workshop for the High-Level Task Force on Safe Assets to survey the views of private sector stakeholders regarding the potential creation of SBSs. The workshop took place on 9 December 2016 at the Banque de France.


This survey was conducted by an ESRB-commissioned High-Level Task Force on Safe Assets to seek the views of interested stakeholders regarding sovereign bond-backed securities (SBBS). The ESRB published a background document describing the approach taken by the Task Force. The background document does not constitute the final opinion of the ESRB or its member institutions in respect of SBBS.