in relation to a designated or formerly designated credit institution, means the following activities -
(a) issuing asset covered securities and otherwise financing or refinancing the activities referred to in paragraphs (b) to (d)
(b) entering into cover assets hedge contracts
(c) dealing with mortgage credit assets, public credit assets and substitution assets
(d) holding cover assets and maintaining the related cover assets pool
(e) the keeping of a register of mortgage covered securities business or public credit covered securities business
(f) administering and servicing those activities