HSBC Bank Plc, the former Midland Bank, this week launched the first public securitisation to emerge from the giant HSBC Group, with a £519m collateralised loan obligation backed by its loans to UK corporates. The deal removes one of the most high profile names from the dwindling list of top commercial banks yet to adopt securitisation as a tool of balance sheet management. It also underlines the fact that changes in retail savings patterns are sharpening banks' enthusiasm for new sources of funds.
April 07, 2000