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FIGCovered Bonds

Senate hears conflicting FDIC and industry views

A Senate Banking Committee hearing on covered bonds yesterday (Wednesday) showed that the success of initiatives to establish covered bond legislation in the US appears to hinge on lawmakers’ ability - if indeed it is possible - to reconcile calls from the Federal Deposit Insurance Corporation for flexibility in its handling of covered bonds in the event of receivership with legal certainty for issuers and investors.

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