The Spanish treasury held its second auction for MBS structured deals on Dec 11.

The Treasury granted €7.2 billion ($9.8 billion), making a total of €10 billion of new funding in 2008. The transaction consisted of outright buying of structured bonds with a fixed coupon of 4.4% and a three-year bullet maturity, backed by mortgages originated after October 2008. As a result, only Cedula tranches and multi-seller structured Cedulas were eligible. 

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