Rep. Scott Garrett (R-NJ) offered an covered bonds amendment that goes a long way to creating a more comprehensive legislative framework for covered bonds in the U.S.

This amendment mirrors the legislation Garrett and Rep. Paul Kanjorski (D-PA-11) introduced earlier this year, the Equal Treatment for Covered Bonds Act, which aims to help facilitate a robust covered bonds market in the U.S. The aim was to add liquidity and certainty to the nation's housing market.

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