Key FDIC issue dodged as HFSC passes updated version of US Covered Bond Act

The House Financial Services Committee passed the United States Covered Bond Act of 2010 on Wednesday after some concessions were made to the Federal Deposit Insurance Corporation. However, a compromise over the contentious issue of how overcollateralisation should be treated has not yet been reached.

  • 30 Jul 2010

Republican Congressman Scott Garrett, who introduced the bill, had, ahead of the markup, negotiated with Democrat Melissa Bean about how some of the FDIC’s concerns could be addressed. This resulted in an amendment being offered by Bean that was agreed upon.

This changed the "covered bond regulator" envisaged by ...

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5 Goldman Sachs 158,991.47 518 5.38%

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3 UniCredit 26,992.47 123 5.43%
4 SG Corporate & Investment Banking 26,569.73 97 5.34%
5 Credit Agricole CIB 23,807.36 111 4.79%

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3 Citi 8,202.25 45 7.11%
4 UBS 6,098.17 23 5.29%
5 Credit Suisse 5,236.02 28 4.54%