Italian Bank Closes First Consumer Loan ABS

12 Dec 2008

Unione di Banche Italiane’s Internet-based subsidiary Banca 24-7 has closed its first securitization of consumer loans.

--Cristina Pittelli

Unione di Banche Italiane’s Internet-based subsidiary Banca 24-7 has closed its first securitization of consumer loans. The €2.5 billion ($3.3 billion) deal, backed by assets across Italy, is issued from the bank’s 24-7 Finance platform and is known by the same name. The issuance is ...

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