Why the sun hasn’t set on RMBS | Banks weigh the costs of sterling issuance
It is not only the big UK clearing banks that are feverishly assessing the pros and cons of covered bond issuance; building societies, the UK’s specialist mutually owned mortgage banks, are also expected to tap the market in future. Nationwide was first out of the gate (unsurprisingly, given the size of its mortgage book) with a €2 billion deal in December last year.
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