US lawmakers push for domestic covered bonds market
Home grown: a domestic US covered bond market
While the influx of international covered bond issuers has been welcome, an even more positive development would be the emergence of a market involving US banks. It seemed things were moving in that direction in March 2010 with the introduction of the US Covered Bonds Act, the leading advocates of which were Republican congressmen Scott Garrett, Paul Kanjorski and Spencer Bachus.
The move to get the act through the US legislative process stalled soon after it was published, with the focus of
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