FSA warms to UK covered bonds, will set legal frame
The UK's Financial Services Authority will shortly release a new statement on UK covered bond issuance that will open the way to enshrining the market in law, EuroWeek understands.
The FSA will also relax its previous restrictive stance on the amount of covered bonds a bank can issue, allowing the UK market to grow.
Both measures should help UK covered bonds overcome any remaining objections or obstacles to their becoming a front ranking sector
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