At a congressional hearing, bond-market experts and lawmakers said creating a covered-bond market in the U.S. would increase credit-market liquidity and revive mortgage lending. "[When] credit markets are still experiencing a great deal of difficulty and our financial institutions are slow to reopen credit to a broad swath of Americans, we must consider new and innovative alternatives to increase liquidity and [to] restore confidence," said Rep. Scott Garrett, R-N.J.

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