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FIGCovered Bonds

NZ law to keep 10% issuance cap

New Zealand moved a step closer to domestic covered bond legislation this week, with a parliamentary select committee recommending that the country’s covered bond bill be passed. The Finance and Expenditure Committee opted to retain a 10% limit on issuance, but said that the risk to senior debt holders and depositors were outweighed by the benefits that covered bonds could bring.

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