Law360, New York (November 21, 2011, 6:49 PM ET) -- A companion bill to the U.S. Covered Bonds Act of 2011 (the "Act"), which was introduced earlier this year in the U.S. House of Representatives, was recently introduced in the U.S. Senate. While the Senate bill largely mirrors the House bill as approved by the House Financial Services Committee, there are several key differences. This article summarizes those differences.
Covered Bond Act Definitions
The Senate bill incorporates the following revisions into the definitions section of the Act:
Two additional types of entities have been added to...