Sentences with phrase «federal backstop»
The phrase "federal backstop" refers to the support or assistance provided by the national government in case of a problem or failure. It is like a safety net or backup plan that the federal government puts in place to help when necessary. Full definition
House Financial Services Committee Chairman Jeb Hensarling spoke out yesterday on the need to enact comprehensive housing finance reform and acknowledged that a final package would likely contain some kind of federal backstop.
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While subsidies aren't as critical when commodity prices are high, land ownership would get much riskier without some sort of federal backstop, notes Brownfield.
When the lawmakers unveiled their plan last month, NAHB Chairman Kevin Kelly issued an official statement in support of the bill, noting that the measure «would provide a federal backstop to ensure that the 30 - year mortgage, the bedrock housing finance tool for most consumers, remains readily accessible and affordable.»
No false sense of security, no federal backstop.
As Trudeau himself admits, «there is a federal backstop that will ensure that the national price on carbon pollution is applied right across the country.»
The Terrorism Risk Insurance Act (TRIA), passed by Congress in November 2002 and renewed in 2007, provides a federal backstop for future terrorist acts, making it easier for insurers to calculate their maximum losses for such a catastrophe, and thus price the coverage.
Halperin predicted that the federal Terrorism Risk Insurance Act, which creates the federal backstop that encourages private insurers to make terrorism insurance available and affordable for commercial properties, will be reauthorized before its December 31st expiration date.
Private lenders without that federal backstop simply won't make safe, long - term financing available on a widespread basis.
«Leaders in Washington must stop scaring consumers by talking about eliminating the mortgage interest deduction, ending a federal backstop for housing and calling for a minimum 20 percent downpayment on home loans,» says Nielsen.
Deteriorating real estate fundamentals across several property types, particularly in the office sector, coupled with a lack of a federal backstop for terrorism insurance have put a halt on deal making.
The federal backstop program is a critical component of the private / public partnership created to protect the nation's business sector by ensuring that adequate insurance coverage is available to effectively manage economic risks.
Independent Contractor Status: Caught in the Crosshairs Disclose Encroachment The Need for a Federal Backstop Be Cautious With Flips Mother - in - Law Knows Best
Because of the importance of terrorism insurance coverage to commercial real estate, NAR supports the continued availability and affordability of coverage made possible by the federal backstop program of the «Terrorism Risk Insurance Act of 2002» and its extensions.
Sustaining a viable private market for terrorism insurance depends on the federal backstop.
As BOMA has been explaining to Congress for the past two years, without the federal backstop in place, many policyholders would be unable to insure their properties at reasonable rates and terms, and much of our nation's infrastructure, including buildings, arenas and transportation systems, would be at risk, creating an economic risk to the entire nation.
NAR is working actively with the Coalition to Insure against Terrorism to encourage the Senate to create a federal backstop in the face of large - scale terrorist activity.
Bush said failure to create a federal backstop for insurance companies in the event of a new attack has already begun to cost jobs as construction projects are canceled due to prohibitively expensive insurance premiums.
Mitt Romney has not aired his views on the housing market's federal backstop; but running mate Rep. Paul Ryan (R - Wis.)
TRIA was created in 2002 following the 9/11 attacks in order to provide a federal backstop for insurance coverage in the event of catastrophic losses from terrorist attacks.
The bill that passed in the Senate last week with overwhelming, bipartisan support provides the federal backstop necessary to allow insurers, employers, and property owners to continue to manage terrorism risk.
A new mortgage insurance fund would provide a federal backstop for the mortgage - backed securities, but not the guarantors themselves, and would be financed with appropriately priced insurance premiums.
He also said he supports a federal backstop in the secondary mortgage market although he also wants to cultivate more private options.
The statements and questions focused on TRIA's successes in helping the insurance market provide terrorism coverage, how making changes to the program - such as raising the «trigger» amount for the federal backstop - could affect the market for terrorism insurance, the cost of the program to taxpayers, and whether the private insurance market has developed enough that the federal backstop provided by TRIA is no longer necessary.
The U.S. House and Senate have passed separate bills that call for a federal backstop on terrorism insurance, and were expected to iron out their differences in conference following the August recess.