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FIGCovered Bonds

CMHC’s covered guide clears ground for 2013 deals

Canada Mortgage Housing Corp (CMHC) has published the final details of Canada’s covered bond framework, allowing issuers to begin building new programmes for a return to market in 2013. Though uninsured mortgages are prohibited, in-depth disclosure requirements should go down well with investors and stand borrowers looking at SEC and 3(a)(2) issuance in good stead.

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