Paulson encourages banks to issue covered bonds

07/21/2008 | Bloomberg

Treasury Secretary Henry Paulson is trying to create a new source of mortgage financing by urging lenders to issue covered bonds. A Treasury official said regulators can provide the guidance on covered bonds that banks want without waiting for a bill from Congress. In Europe, covered bonds represent a multitrillion-dollar market that is a main source of financing for mortgages and municipal debt.

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