BBVA taps Catalunya Banc assets for new Spanish RMBS

Tom Brown

December 02, 2019 04:45 PM

spain_houses 230x150 PA — 20 December 2017, Spain, Barcelona: View of the sea of houses of the city with elements on the towers of the cathedral Sagrada Familia in the foreground, a Roman Catholic basilica in district Eixample. Since 1882 it has been built according to the designs of the Catalan architect Antoni Gaudi. Photo: Frank Rumpenhorst/dpa | Frank Rumpenhorst/DPA/PA Images

Banco Bilbao Vizcaya Argentaria (BBVA) has structured a large Spanish RMBS, likely to be retained and used as central bank collateral. The deal is made up of 88.1% BBVA mortgages, with another 10.2% originated by CatalunyaCaxia Banc, which was bailed out and bought out of state ownership by BBVA following the financial crisis.

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Topics

BBVA Spain RMBS Securitization Europe EMEA

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Tom Brown