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) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%