The Committee on Banking, Housing and Urban Affairs of the U.S. Senate held a hearing on covered bonds on September 15. At this writing, no covered bond legislation has been introduced in the Senate. Nevertheless, the Committee held a hearing on the potential uses of and regulatory issues posed by covered bonds. Committee Chairman Dodd had promised during the conference committee hearings on the Dodd-Frank Act when the amendment for covered bonds was rejected that the Banking committee would hold a hearing.