Abbey National’s eye-catching mortgage-backed securitization (MBS) programme has touched a new height with its £2.25 billion ($3.375 billion) Holmes Financing 1, the largest ever securitization of European mortgages. Brian Morrison, the bank’s director of treasury services and international, says making the bonds fully SEC registered opens up a vast investor base in the US. “This takes us into a new ball game, which is the really big market,” he says.
January 01, 2000
