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Article: Bank of America, Citi, JPMorgan Chase and Wells Fargo & Company Announce Support for Covered Bond Statements from FDIC and U.S. Treasury Department.
- Article from:
- PR Newswire
- Article date:
- July 28, 2008
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Large U.S. banks join together to support development of a U.S. covered bond market to supply stable mortgage funding
WASHINGTON, July 28 /PRNewswire/ -- In a joint statement today, Bank of America, Citi, JPMorgan Chase and Wells Fargo announced their support for two recent regulatory efforts taken to promote the development of a U.S. covered bond market. The Federal Deposit Insurance Corporation (FDIC) issued a Final Covered Bond Policy Statement* on July 15. Also, a Best Practices for Residential Covered Bonds* statement prepared by the U.S. Treasury Department, with the support of the FDIC, Federal Reserve, Office of Thrift Supervision, Office of the ...