Dutch Treasury launches second US RMBS auction
The Dutch government has announced another competitive auction for $4.27bn of US non-agency RMBS bonds that were part of a much larger ING portfolio that needed a government back-up facility in 2009.
The process will see six banks submit bids for the bonds based on the strength of interest from their clients. Those banks are Bank of America Merrill Lynch, Barclays, Citi, Credit Suisse, Goldman Sachs and Morgan Stanley. Bids need to be submitted by 10am on January 16.
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