Banks flock to FLS — but Brass demonstrates role for RMBS
Despite Bank of England data on Tuesday showing UK banks flocking to the Funding for Lending Scheme, ABS bankers say lenders will still make use of the RMBS market — especially when levels are as attractive as where Yorkshire Building Society’s Brass No.2 was sold last week.
Thirteen UK lenders have signed up to the Funding for Lending Scheme (FLS), including four of the five largest Barclays, Lloyds, Royal Bank of Scotland and Santander. They are joined by several building societies and smaller banks. HSBC, as it had previously indicated, is not participating.
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