US covered law getting closer
The US Covered Bond Act 2011 took another step forward on Wednesday when the House of Representatives Financial Services Committee overwhelmingly voted in favour of the proposed bill. Two amendments that aimed to give the Federal Deposit Insurance Corporation covered bond oversight powers were voted down, so the bill heads to the House of Representatives floor in a relatively investor friendly state. But there were already small indications that more compromise may be needed to win over sceptics.
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