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The Securities Industry and Financial Markets Association’s (SIFMA) U.S. Covered Bonds Council today released the following statement on the introduction of the United States Covered Bond Act by Rep. Scott Garrett, with support from Rep. Paul E. Kanjorski and Financial Services Committee Ranking Member Spencer Bachus as leading cosponsors. The statement is from Sean Davy, managing director at SIFMA:
“SIFMA's U.S. Covered Bond Council is pleased to see the increased momentum for a dedicated legislative framework for covered bonds that is fundamental to building a vibrant U.S. covered bonds market. We thank Congressman Garrett for his leadership on this issue and are pleased to see Reps. Kanjorski and Bachus join him in this effort.”
The U.S. Covered Bond Council (the USCBC) is a forum sponsored by The Securities Industry and Financial Markets Association (SIFMA) through which a diversity of market participants desire to promote a U.S. covered-bond market as a complementary and additional funding source for financial assets. Fundamental to the USCBC’s mission is the development of market policies and practices that uphold public confidence in U.S. covered Bond to the benefit of issuers, investors and ultimately consumers and the public. As the voice of the U.S. covered bond market, the USCBC will further represent the industry's interests through constructive dialogue with legislative, regulatory and other policymaking bodies.
