Wednesday, May 21, 2008
Now it looks like we'll always be bailed out by the Central Banks, let's try this trick again!
FT: HBOS returns to mortgage-backed bond market
HBOS, the UK’s largest mortgage lender, has sold £500m of mortgage-backed bonds in the first such deal for any mainstream European issuer since the credit crisis struck last summer.
The bank’s first deal since July 2007 will lift hopes that mortgage securitisation markets, which have been in effect shut for months, could begin to re-open and that other lenders may now be encouraged to test the waters.
Posted by tyrellcorporation @ 10:48 AM (283 views) Add Comment
1 Comment
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1. icarus said...
"It was more important for the market to see a deal done". Sounds like window-dressing. It's small compared with the billions written off or the billions involved in the BoE liquidity scheme and it applies only to the safest mortgages (61% average LTV).