UK ABS drought continues as banks take more FLS funding

Three major securitisation issuers — Barclays, Lloyds and Nationwide — took more funding from the Bank of England Funding for Lending Scheme (FLS) in the fourth quarter of last year. ABS bankers are confident that issuers will still use their RMBS programmes once this year to placate investors, but a first quarter in 2013 without public UK issuance is certainly a possibility, they added.