Reported 1 day ago
Lloyds Banking Group Plc is initiating a substantial risk transfer associated with approximately £1 billion ($1.3 billion) of restructured UK mortgages that have undergone modifications such as term extensions. This move aims to secure credit protection on a portfolio of mainly performing home loans, which are incurring high regulatory capital charges due to previous delinquencies. The deal may also involve some mortgages currently in arrears, with terms still being negotiated with investors.
Source: YAHOO