Bradford & Bingley confirms 'non-asset trigger'
Bradford & Bingley has confirmed a non-asset trigger event within the structure of its Aire Valley securitisation programme.
``In an already uncertain climate, investors and analysts were rocked by news of the Company's subprime exposure and given a sour taster of what could be in store for UK banks over the forthcoming months. Despite these reports and talk of gloomy housing predictions, which could dent mortgage sales, our customers looked to profit from Bradford & Bingley's woes and the stock equated to almost a quarter of all retail investor buys this week. The majority of these trades were made yesterday when the stock plummeted to an all-time low.