The covered bond transaction was issued under the Irish Asset Covered Securities
legislation and was issued by Bank of Ireland Mortgage Bank (BOIMB).
In a 7-to-2 decision the Court ruled that the assets sold in that scheme were not considered covered securities
, which are defined as items traded on the national exchange.
Cost basis repotting by brokers of sales or other dispositions of covered securities
began phasing in with equities purchased on or after Jan.
Green plaintiffs "claim to have been defrauded to purchase CDs, which are not within the definition of a covered security, but which were in turn backed by covered securities
," or securities traded on a national exchange.
For transfer statement purposes, shares of a mutual fund (a regulated investment company (RIC)) are not considered covered securities
unless acquired on or after January 1,2012.
1bn of Irish covered bonds, known as asset covered securities
, in the 2008/2009 financial year, comprising EUR675m in private placements, EUR31m in registered private placements and EUR2.
They insist that defense costs must be allocated between the covered securities
claim and the non-covered claims, and refuse to reimburse the latter.
Because the federal banking agencies already had broad supervisory and regulatory authority, it was deemed unnecessary in the eyes of the Congress to add a second layer of regulation that covered securities
activities of banks.
6045, as amended by the act, requires securities brokers and other affected persons to report to the IRS and customers (on Form 1099-B, Proceeds From Broker and Barter Exchange Transactions) the adjusted basis of covered securities
sold and whether any
18 February 2011 - Fitch downgraded Thursday to BBB+ from A the ratings on the mortgage covered bonds issued under Anglo Irish Bank Corp's (Anglo) UK covered bond programme and Anglo Irish Mortgage Bank's (AIMB) Irish Asset Covered Securities