{"id":227507,"date":"2010-01-25T17:04:27","date_gmt":"2010-01-25T22:04:27","guid":{"rendered":"http:\/\/mortgagenewsclips.com\/2010\/01\/25\/canadas-cibc-plans-u-s-dollar-covered-bond\/"},"modified":"2010-01-25T17:04:27","modified_gmt":"2010-01-25T22:04:27","slug":"canada%e2%80%99s-cibc-plans-u-s-dollar-covered-bond","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/227507","title":{"rendered":"Canada\u2019s CIBC Plans U.S. Dollar Covered Bond"},"content":{"rendered":"

\n\"CBI-logo-clips.jpg\"<\/a> \"MJ-cbi.jpg\"<\/a><\/p>\n

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By Mercy Jim\u00e9nez<\/a><\/b><\/p>\n

Foreign issuers of covered bonds are<\/span> moving to develop a U.S. covered bond market while proposed legislation to help potential U.S. issuers lags.  <\/span><\/b><\/p>\n

Today,<\/span> Canadian Imperial Bank of Commerce (CIBC) announced its intention to issue a U.S. dollar-denominated covered bond \u2014 perhaps later this week.<\/span><\/b><\/p>\n

This announcement comes on the heels of<\/span> last week\u2019s statement from Germany\u2019s Commerzbank regarding plans for their own U.S. dollar Pfandbrief<\/i>-style covered bond issue.<\/span><\/b><\/p>\n

One significant point is that<\/span> issuance in U.S. dollars generally has stronger appeal for U.S. institutional investors than bonds issued in foreign currencies.  <\/span><\/b><\/p>\n

While this is a<\/span> very positive development for exposing the U.S. market to covered bonds in general,<\/span> it would be much better if U.S. issuers could also benefit from this efficient source of funding \u2014 as foreign issuers now appear positioned to do. For that, experts agree that Congressional enactment of<\/span> a legislative framework for U.S. covered bonds would make a critical difference.<\/span><\/b><\/p>\n

Here\u2019s the story:<\/b><\/p>\n

<\/p>\n

http:\/\/www.coveredbondinvestor.com\/news\/cibc-issue-us-dollar-covered-bond<\/b><\/a><\/p>\n

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\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

By Mercy Jim\u00e9nez Foreign issuers of covered bonds are moving to develop a U.S. covered bond market while proposed legislation to help potential U.S. issuers lags.   Today, Canadian Imperial Bank of Commerce (CIBC) announced its intention to issue a U.S. dollar-denominated covered bond \u2014 perhaps later this week. This announcement comes on the heels of […]<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-227507","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/227507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=227507"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/227507\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=227507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=227507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=227507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}