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FIGCovered Bonds

US law still in the balance

US covered bond legislation could get sidelined and face several more years of delay, frustrating the market which was hoping to see results before the end of 2011. The country’s long-awaited covered bond law could be sucked into the wider US housing reform debate, and thereby get pushed back even further, Bert Ely, a banking consultant told a key industry conference in New York at the end of last week.

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