Lloyds Sheds $5B US RMBS Pools In Latest Disposition

Law360, New York (May 31, 2013, 1:01 PM EDT) -- In its third major disposition of the week, U.K.-based Lloyds Banking Group PLC announced Friday that it has agreed to sell off a portfolio of its U.S. residential mortgage-backed securities for £3.3 billion ($5.01 billion).

The deal, which is a part of its continued efforts to trim down its noncore assets, includes two groups of RMBS with book values of £2.7 billion and £805 million, Emile Abu-Shakra, a spokesman for Lloyds, told Law360. The smaller of the RMBS pools was sold by Lloyds TSB Group Pension...
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