US covered bond bill moves to second stage
The US Covered Bond Bill 2011 will head to the Subcommittee on Capital Markets on May 3 for a mark-up, where the legislation will be subject to amendments by subcommittee members. European covered bond specialists expect the mark-up may contain changes to mitigate Federal Deposit Insurance Committee (FDIC) concerns but Republican congressman Scott Garrett’s office says it is not possible to predict those changes.
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