Japan banks lobby politicians to create covered bond law
Japanese bankers are trying to convince politicians in the country to write a covered bond law. If that happens, they hope to launch the first deal before the end of next year. But these will be covered bonds with a difference: loans to public institutions are likely to be much more prevalent than mortgages in the cover pools.
Bankers, lawyers and academics in the country have been discussing the value of covered bonds since February, when the Development Bank of Japan pushed for the creation of a study group.The state-owned lender is particularly keen on covered bonds, because it does not have the ability to ...
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