Italian RMBS re-sales put on hold by ECB

veneto banca 230x
By Tom Porter
11 Sep 2014

Some Italian mortgage originators issuers preparing to re-market previously retained RMBS transactions in the next few months have put their plans temporarily on hold, preferring to wait and see if they can trim costs by selling them to the European Central Bank rather than the open market.

Italian RMBS has returned to prominence this year as investors’ preferred play on a rally in periphery ABS spreads. Spreads on single-A Italian RMBS in the three to five year bucket have collapsed from around 350bp at the start of the year to just over 100bp now, according ...

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