Archive for the ‘Treasury Secretary’ tag
Paulson Encourages Covered Bond Market to Increase Mortgage Financing
Treasury Secretary Henry Paulson said Monday that
covered bonds are an answer to financial market’s request for clarity. He
said covered bonds, a $3 trillion market used widely in Europe for
mortgage funding, can develop without legislation in the U.S., and four
of the largest U.S. banks are already prepared to set up the market.
“I believe covered bonds have the potential to increase
mortgage financing, improve underwriting standards, and
strengthen U.S. financial institutions by providing a new funding source
that will diversify their overall portfolio,” Paulson said.
Treasury Secretary Paulson Pleased Housing Bill Passed House Quickly
After the U.S. House of Representatives passed a housing
bill including provisions for the creation of a new GSE
regulator and a liquidity backstop to help the beleaguered Fannie Mae and
Freddie Mac, U.S. Treasury Secretary Paulson expressed his gratitude for
the bill having passed quickly.
“As I have said before, the GSE portions of this bill are orders of
magnitude more important to turning the corner on the housing
correction and…
Treasury’s Paulson Says it Was Easy to Recommend President Sign Housing Bill
Although he is not pleased with some parts of the
housing bill, U.S. Treasury Secretary Henry Paulson said
it was easy for him to recommend to President George W. Bush to sign a
housing rescue package into law on Wednesday.