Northern Rock gets rid of Granite first loss

  • 07 Oct 2005

Northern Rock will begin marketing a groundbreaking transaction, Whinstone Capital Management Ltd, next week.

The synthetic deal, arranged by Barclays Capital and Lehman Brothers, will transfer most of the credit risk of the seller's share it retains in its standalone MBS and in Granite Finance ...

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1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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4 JPMorgan 69,240.12 209 7.32%
5 Credit Suisse 51,560.77 157 5.45%