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Bank of America

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Bank of America's EUR4 billion, two-tranche covered bond, issued at the end of March, marks a significant step in the evolution of the covered bond markets. While European covered bond issuers like Depfa, HBOS and HypoEssen have found some success on the other side of the Atlantic, this is only the second time that a US issuer has brought a covered bond to market.

Washington Mutual Bank started the

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