Capital markets lose out as BoE hoovers up UK mortgage funding

By David Bell
16 Mar 2017

Rating agency DBRS outlined the sliding volumes of capital markets funding in the UK mortgage market on Thursday, estimating that Bank of England lending schemes have drawn over 30% of mortgage collateral away from public markets since the financial crisis.

Except for two transactions, bank originated RMBS deals have largely vanished from the UK securitization market since the Bank of England announced its Term Funding Scheme (TFS) in August last year.

The scheme offers borrowers four year funding at levels close to the Bank’s base rate of 25bp. ...

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