Groupe Banque Populaire, Caisse D’Epargne (BPCE) is pursuing a second securitization from a revolving pool of up to €50 billion in residential mortgage loans held in its two-year-old asset-backed fund, according to Standard & Poor’s.

The BPCE Master Home Loans FCT trust, through Class A-2016-01 series of notes, is planning to issue an undetermined amount of four-year notes from the pool that as of April 2016 had a principal outstanding balance of €43.4 billion (US$47.71 billion). The notes will carry an 11.8% credit enhancement supported by outstanding Class B notes from the pool.

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