News & Analysis: regulatory legislative and legal

News: Regulatory Legislative and Legal

Moody's: FDIC Legislation Stance Disadvantages US Covered Bonds

". . . prepayment risk that traditional covered bond investors do not want"

09/21/2010

In an update on the FDIC's stance regarding potential U.S. covered bond legislation, Moody's Investors Service expressed a view that if the FDIC prevails, such legislation "would not put U.S. covered bonds on a level playing field with their European counterparts."

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News: Regulatory Legislative and Legal

Senate Hearing Highlights Disputes Over Covered Bond Legislation

Points of disagreement include repudiation power urged by FDIC

09/15/2010

A hearing on covered bonds held by the U.S. Senate Committee on Banking, Housing & Urban Affairs (Sept. 15) highlighted some significant points of dispute between government officials and the financial industry.

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News: Regulatory Legislative and Legal

SIFMA Again Stresses Support for Covered Bond Legislation

Summarizes testimony of Scott Stengel (Steering Committee)

09/15/2010

The following was released by SIFMA (Sept. 15):

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News: Regulatory Legislative and Legal

Garrett Testifies at Senate Hearing on Covered Bonds Legislation

"a purely private means of finance without government guarantees or subsidies"

09/15/2010

The following was released (Sept. 15) by the Congressional office of U.S. Rep. Scott Garrett:

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News: Lessons From Outside North America: Ratings News: Regulatory Legislative and Legal

Global Covered Bond News Roundup - Week Ending August 6

A tap by Eurohypo . . . a planned auction in Denmark . . . and more

08/07/2010

A Cypress bank issues covered bonds for collateral . . . A professor writes about U.S. covered bonds in the 19th century . . . Eurhypo taps €250 million . . . Caja Madrid to continue repurchases . . . and more

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News: Ratings News: Regulatory Legislative and Legal

Moody's: Covered Bond Bill (H.R. 5823) Positive - But Shortcomings

Negatives include an amendment fragmenting regulatory oversight

08/03/2010

The latest version of U.S. covered bond legislation (H.R. 5823) — which recently won a favorable vote from the House Financial Services Committee (HFSC) — offers both pluses and minuses, according to a comment published by Moody's Investor's Service (August 2).

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News: Issuance: Lessons From Outside North America: Ratings News: Regulatory Legislative and Legal

Global Covered Bond News Roundup - Week Ending July 30

A special update on the prospects for covered bonds in Australia . . . and more

08/01/2010

An Australian lawyer reports on efforts to gain approval for covered bond issuance there . . . a U.S. dollar tap in Canada and a Euro CB tap in France . . . plans for more covered bonds in Korea . . . a step forward for CB legislation in the U.S. . . . and more

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News: Regulatory Legislative and Legal

House Committee Casts Favorable Vote for U.S. Covered Bond Bill

Next step could be vote by full House of Representatives

07/28/2010

The latest version of comprehensive U.S. covered bond legislation, H.R. 5823, was reported out of a markup session by a voice vote of the House Financial Services Committee (HFSC) Wednesday evening (July 28).

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News: Regulatory Legislative and Legal

Realtors Urge Barney Frank to Support U.S. Covered Bond Bill

"[I]t is imperative that all housing finance instruments . . . be utilized"

07/27/2010

The National Association of Realtors® (NAR) has sent a letter to U.S. House Financial Services Committee (HFSC) Chairman Barney Frank (D-MA), urging him to support the revised version of the proposed U.S. Covered Bond Act of 2010 that was introduced in Congress July 22 as H.R. 5823.

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News: Regulatory Legislative and Legal

Revised U.S. Covered Bond Bill - H.R. 5823 - Scheduled for Markup

Potentially significant step toward vote by full House of Representatives

07/24/2010

A revised version of the proposed U.S. Covered Bond Act of 2010 — introduced July 22 in the House of Representatives as H.R. 5823 — has been scheduled for markup on July 27 by the House Financial Services Committee (HFSC).

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