Banca Monte dei Paschi di Siena is in the market with a €3.47 billion ($4.9 billion) Italian RMBS deal, a rarity among a primarily U.K. and Dutch dominated European RMBS market.

The deal, Siena Mortgages 10-7 S.r.l. (Siena 7), is the eleventh securitization of residential mortgage loans originated by banks in  the Banca Monte dei Paschi di Siena group.

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