US bank JPMorgan Chase is the biggest investor in the two sales this year of bonds backed by UK residential mortgages, as the lender snaps up the type of assets behind losses at other banks. Several Irish banks have bonds backed by UK residential mortgages.
JPMorgan bought or committed to buy £2.25bn of notes issued by vehicles of Lloyds in September, the first in more than a year, and Nationwide Building Society.