Residential mortgage-backed securities (RMBSs)

S&P: AAA RMBS writedowns will be minimal

AAA rated tranches of US subprime residential mortgage-backed securities (RMBS) will be written down by less than 1%, despite heavy losses on the underlying mortgages, rating agency Standard & Poor's predicts.

BoE reveals £50bn liquidity facility

Banks have welcomed a scheme by the Bank of England (BoE) aimed at improving the balance sheets of UK financial institutions. The £50 billion facility, announced on April 21, will allow financial institutions to swap illiquid mortgage-backed securities…

S&P makes further mass RMBS downgrades

Standard & Poor’s has downgraded 6,389 residential mortgage-backed securities (RMBS) supported by subprime collateral and has placed 1,953 collateralised debt obligations (CDOs) of asset-backed securities on credit watch, in a dire assessment of the…

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