HBOS Avoiding RMBS Market At Current Spread Levels

  • 20 Nov 2007
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U.K.-based HBOS does not want to issue residential mortgage-backed securities at current spread levels, according to the bank’s head of securitization and balance sheet management, reports Reuters UK. “We wouldn't be prepared to pay the prices,” said Ian Stewart. Stewart added that a lack of demand for the product has affected price. He also cited the structured covered bond market as an alternative option to the RMBS market. HBOS usually plans two residential mortgage-backed issues a year, each sized between £4-5 billion ($8.27-$10.33 billion).

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  • 20 Nov 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 13,295 25 18.56
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.25
3 Lloyds Bank 6,979 21 9.74
4 Citi 6,256 16 8.73
5 JP Morgan 5,220 8 7.29

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 104,427.74 298 10.96%
2 Bank of America Merrill Lynch 86,347.40 249 9.06%
3 JPMorgan 80,990.39 237 8.50%
4 Wells Fargo Securities 77,934.65 225 8.18%
5 Credit Suisse 63,570.21 165 6.67%