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Article: FDIC BOARD APPROVES FINAL COVERED BOND POLICY STATEMENT
- Article from:
- US Fed News Service, Including US State News
- Article date:
- July 15, 2008
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The Federal Deposit Insurance Corporation issued the following news release:
The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a final covered bond policy statement (the "Policy Statement") that will facilitate the development of the U.S. covered bond market by providing bondholders expedited access to collateral if the FDIC declines to continue the covered bonds after a bank failure. Covered bonds originated in Europe, where they are subject to extensive statutory and supervisory regulation designed to protect the interests of covered bond investors from the risks of insolvency of the issuing bank. By contrast, covered bonds are a relatively new ...