Northern Rock Said to Consider Sale of Mortgage Securities
This article is for subscribers only.
Northern Rock Plc may sell retail mortgage-backed securities for the first time since its rescue in 2007, according to a person with knowledge of the situation.
The Newcastle, England-based bank is considering offering the securities in the first half of the year, though it would continue to be funded mainly by retail deposits, said the person, who declined to be identified because the plans are private. A final decision hasn’t been made, the person said.