Late entrants take the lead

Jules Stewart reports on Banca Nazionale del Lavoro’s arrival on the securitisation scene and how it has become Italy’s frontrunner for RMBS.

Banca Nazionale del Lavoro (BNL) was something of a latecomer to the securitisation market. It only started planning its first transaction in 2002, however, it has since powered into a leading market position among Italian issuers.