Dexia MA counters M&G statement on transparency

Dexia MA has strongly countered comments released yesterday by M&G regarding pool transparency explicitly stating that it has never had a residential loan. The statement follows a press release from M&G stating that the borrower’s Obligations Foncieres are not what they seem because they are “full of assets originated elsewhere in the Dexia group (not French mortgages), including Belgian and Italian asset backed securities and Spanish mortgage bonds.”