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FIGCovered Bonds

SNB buying lets Pfandbriefbank sustain tight levels

Pfandbriefbank schweizerischer Hypothekarinstitute set the size of its September 2016 tap at Sfr309m yesterday (Thursday) afternoon and priced it at 3bp over mid-swaps, a level made possible by the Swiss National Bank’s intervention in its domestic covered bond market.

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