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In response to the credit crisis and unprecedented defaults in highly rated securitized debt, the Canadian Securities Administrators have recently released proposals to enhance disclosure rules and other investor protections applicable to issuers, sponsors and underwriters of securitized products in Canada
Having been involved in the establishment of covered bond programs for Canadian financial institutions from the outset, we are pleased to see that the Government's March 2010 budget contemplates the introduction of covered bond legislation
On February 23, 2009, two initiatives were announced in the context of the Government of Canada's Extraordinary Financing Framework which supports financing for Canadian businesses and consumers
