A bipartisan group of senators, Bob Corker (R-Tenn.), Mike Crapo (R-Idaho), Kay Hagan (D-NC), and Charles Schumer (D-NY), today sponsored new legislation that would set up a covered bond framework in the U.S.

The bill is nearly identical to the one that passed the Financial Service Committee of the U.S. House of Representatives in June. “The House version was heavily vetted so I think that made it easier for the Senate to pick up something that closely mirrored it,” said Ralph Daloisio, MD at Natixis and a champion of having a covered bond legislation.

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