Central bank lending to drive away UK covered bond issuance

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By David Freitas
15 May 2020

The UK covered bond market may be about to shrink. Deals maturing this year could well be refinanced at the Bank of England, while issuers could see their mortgage pools shrink as a result of the lockdown.

The Bank of England has put in place a number of measures to ensure it can provide UK lenders with financing so that they can keep lending to customers throughout the coronavirus pandemic.

The facilities offer loans of up to four years at prices close to the bank rate, ...

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