September 20, 2007 (LPAC)--In the wake of the Bank of England's support operation for the British bank Northern Rock, which raised money in international markets using mortgage-backed securities and other financial instruments, three more European entities have announced they're selling off large volumes of mortgage-backed "assets." Bloomberg.com reported today that "TCW Asset Management, the money manager owned by France's Societe Generale SA, is selling $3.2 billion of mortgage securities backing collateralized debt obligations after the value of the bonds fell." Bloomberg's article also reports, citing S&P, that Geneva-based Avendis Financial Services and London-based Solent Capital Partners LLP unloaded mortgage securities because of difficulty refinancing asset-backed commercial paper.