J. Christopher Hoeffel Testimony for Covered Bonds Hearing

This twelve-page document is the written testimony prepared by J. Christopher Hoeffel for a hearing on covered bonds scheduled for December 15 by the House Committee on Financial Services.  The title of the hearing was "Covered Bonds: Prospects for a U.S. Market Going Forward."

Hoeffel's testimony was prepared on behalf of the Commercial Mortgage Securities Association (CMSA), which describes itself as "a global trade organization representing the full range of commercial real estate market finance participants, including investment and commercial banks; rating agencies; accounting firms, servicers; other service providers; and investors such as insurance companies, pension funds, and money managers."  Much of the testimony describes the current difficult state of the commercial real estate market and how covered bonds could serve as "a potential 'additive' financing and liquidity tool" to improve the situation.

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