Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Hansard source

I understand we were waiting for the member for Lyne. He has not turned up; so be it. We are debating the Banking Amendment (Covered Bonds) Bill 2011, which the government has introduced to enable authorised deposit-taking institutions to issue covered bonds. People who are listening to this broadcast or who are in the gallery have probably often thought about covered bonds. This is a significant initiative because covered bonds are a form of fundraising widely used by banks in other countries, including in Europe and New Zealand.

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