Investors rush to buy Nationwide's £3.5bn RMBS
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Investors demanded more than double the £3.5bn residential mortgage backed securities bonds that Nationwide issued yesterday, sparking hopes of a revival of the RMBS market.
The building society launched the bonds from its Silverstone master trust, marking the second RMBS deal in a month after Lloyds Banking Group issued £4bn from its Permanent Financing master trust.
The Lloyds sale was the first since the market shut after Lehman Brothers collapsed in September 2008.
The RMBS market is a key source of funding for the banks which has been crippled during the financial crisis.
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