Aussie inquiry prompts calls for green light for covered bonds
Australian financial institutions and organisations have called on the country’s government to allow issuance of covered bonds, with one bank pressing for urgent action. The comments were made in submissions to a Senate inquiry on banking competition that closed on Monday.
The inquiry was launched by the Senate Economics Committee on October 28, with a public hearing scheduled to be held on Monday, December 13 in Sydney. The reporting date is March 31, 2011.
Australian banks are prevented from issuing covered bonds because the Australian Prudential Regulation Authority considers them
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