CML criticises ‘inferior support’ for covered bonds
The Council of Mortgage Lenders has published a budget submission to HM Treasury calling for the UK authorities to signal their support for covered bonds and residential mortgage-backed securitisation, and explain how the end of funding through the Bank of England’s Special Liquidity Scheme and the Treasury’s Credit Guarantee Scheme will be dealt with. Meanwhile, a new industry body is being created to focus on funding UK mortgage lending.
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