Granite (Northern Rock vehicle)
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Granite is a securitisation vehicle created by the British bank Northern Rock, based in Guernsey.
The purpose of Granite is to parcel up the mortgages provided by the bank and sell the value to investors. Granite has a value of around £45 billion[1].
[edit] References
- ^ The state of Northern Rock: anything but usual The Daily Telegraph February 20, 2008. Retrieved: February 22, 2008.
[edit] External links
- Mortgage Securitisation deals at Northern Rock
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