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spinoza · 22nd April 2008, 14:54

I bet no one here has read the actual statement.

It's AAA mortgage backed securities, the swap is continuously collateralised, and there's a fee payable (priced at LIBOR minus). It's extremely unattractive from the commercial bank's point of view.

22nd April 2008, 14:54	#16 (permalink)
spinoza Paz's ion Join Date: Oct 2001 Location: Everything is "blarg". Posts: 22,081	I bet no one here has read the actual statement. It's AAA mortgage backed securities, the swap is continuously collateralised, and there's a fee payable (priced at LIBOR minus). It's extremely unattractive from the commercial bank's point of view.