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Abbey National’s eye-catching mortgage-backed securitization (MBS) programme has touched a new height with its £2.25 billion ($3.375 billion) Holmes Financing 1, the largest ever securitization of European mortgages. Brian Morrison, the bank’s director of treasury services and international, says making the bonds fully SEC registered opens up a vast investor base in the US. “This takes us into a new ball game, which is the really big market,” he says.

Described as being Castro’s favourite capitalist, much to the disdain of the US Treasury Department, Ian Delaney, chairman of Sherritt International Corporation, the Toronto based mining company, is back in the news. Five years after being accused of “doing a deal with the devil” by Marc Thiessen, an aide of the US Senate’s Foreign Relations Committee for daring to invest in Cuba and going against the US government’s anti-Cuban Helms-Burton legislation, Sherritt’s Delaney has now annoyed the Germans. And there’s going to be a face-off in the courtroom.