The Raw Deal


Despite regularly topping Credit’s sterling liquidity survey, RBS has recently been putting some investors’ backs up in the sterling whole-business securitisation sector, where it is something of a market leader.

According to some investors, the bank has developed an unpleasant habit of buying up lower-rated, long-dated or perpetual paper, some of which yields around 130bp over gilts, wrapping it with monoline insurance, and selling the repackaged bonds back to the market in brand new

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here