Bert Ely Testimony for Covered Bonds Hearing

This eleven-page document is the written testimony prepared by Bert Ely for a hearing on covered bonds scheduled for December 15 by the House Committee on Financial Services (HCFS).  The title of the hearing is "Covered Bonds: Prospects for a U.S. Market Going Forward."

Ely is a consultant on deposit insurance and banking structure issues.  Topics in his written testimony include:

• "A brief description of covered bonds"

• "Benefits covered bonds will deliver to the U.S. economy"

• "Creating the appropriate legal structure for covered bonds"

Ely concludes: [T]his marketplace will not develop until such time as Congress enacts a sound covered-bond statute which provides for the efficient regulation and operation of the U.S. covered-bond marketplace."

To download a PDF of Ely's written testimony, click on "20091215 Ely" under "Attachment," below.