FDIC wants ‘balanced’ law, not ‘virtual’ state backing
The Federal Deposit Insurance Corp wants to work together with congressional proponents of a US covered bond market to establish "balanced" covered bond legislation to foster such a market, FDIC chairman Sheila Bair said at a housing finance symposium on Monday.
Her comments came after Congressman Scott Garrett last week told a conference in New York he was "cautiously optimistic" that US covered bond legislation could be finalised before the end of next year.
Bair told delegates that the FDIC supports covered bond legislation but warned that it needed to
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