Silverstone hints at European future
Securitisation needs to find a new investor base to replace the leveraged conduits and structured investment vehicles on which it used to depend. Nationwide Building Society’s Silverstone deal this week showed how issuers can help newcomers engage with the product.
Nationwide Building Society priced its first public securitisation of residential mortgages on Tuesday, giving a further boost to Europes troubled but resurgent securitisation market.
The deals very existence bodes well for the future of the market, marking the first new securitisation issuer since before the crisis and a vote
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