Northern Rock began marketing the securitization of its first loss funds within the older Granite mortgage master trust transactions completed up to the end of 2004. According to market reports the deal will be structured as a funded synthetic credit default swap and will offered to buyers in the U.K., Europe and U.S. Northern Rock indicated in its interim results that this securitization will help strengthen the bank's capital position.
Access to a full range of industry content, analysis and expert commentary.
No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.
Have an account? Sign In