Veneto Banca tightens curve again with ECB set to intensify periphery squeeze

veneto banca 230x
By Tom Porter
13 Nov 2014

Veneto Banca priced its second resale of Claris 2011 RMBS paper of the year this week, bringing its funding costs in the asset class well inside 100bp over Euribor. And with the European Central Bank set to begin ABS purchases next week, bankers expect the market to become even more attractive to periphery credits.

ECB executive board member Yves Mersch has confirmed the central bank will look to initiate its ABS purchase programme next week (see overleaf), with many expecting the necessary acts to be passed at the governing council’s mid-month meeting on November 19.

Veneto Banca’s fellow Italian issuer Agos Ducato ...

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