So-called pass-through coverage would insure the holders of these tokens against losses up to $250,000 if the bank holding the collateral were to fail.
The American government has never defaulted on its debts, but congressional gridlock over raising the debt ceiling is making investors question what would happen if it did.
The chair initially said the report would come out at the beginning of summer. Then he said it would come out in September. When asked if that was still happening, he said it would come ”soon.”