High swap costs keeping Lloyds out of dollar RMBS
![Lloyds Insurance building in City of London financial district of London England UK. Image shot 2014. Exact date unknown.](https://assets.euromoneydigital.com/dims4/default/e5b5570/2147483647/strip/true/crop/5050x3357+0+0/resize/840x558!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F3b%2F87%2F93027bc345db8f62ee3ed6ac63a4%2Fa566bh.jpg)
Lloyds sees RMBS and covered bonds as 'complementary' after Permanent return, but dollar mart looks expensive
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