Wary greeting for UK RMBS guarantees

The UK government launched its long awaited guarantee scheme for mortgage backed securities in the budget report on Wednesday. But while the £50bn plan was widely welcomed by participants in the mortgage market, its unexpected structure caused surprise and confusion and raised questions over how widely it will be used.

  • 24 Apr 2009
The government will provide guarantees in two forms — credit or liquidity — of up to £50bn on qualifying RMBS newly issued by UK banks or building societies.An official at the Debt Management Office told EuroWeek that covered bonds would not be eligible. Issuers have six months to ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,665 23 12.97
2 Citi 5,781 17 11.25
3 BNP Paribas 3,715 15 7.23
4 Barclays 2,853 9 5.55
5 Credit Suisse 2,783 8 5.42

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 Citi 99,250.27 279 13.04%
2 Bank of America Merrill Lynch 92,153.61 267 12.10%
3 Wells Fargo Securities 72,661.39 222 9.54%
4 JPMorgan 52,367.24 169 6.88%
5 Credit Suisse 41,885.89 127 5.50%