Canberra takes a bond ‘step change’ (The Australian)

The AOFM has started operating the $15bn Structured Finance Support Fund to help smaller lenders access funding during a period of market dislocation. Further detail on the fund provided on Tuesday evening said it was available to non-bank lenders and authorised deposit-taking institutions that did not have the collateral required to tap the RBA’s $90bn funding facility for banks. The AOFM will seek to invest in packages of loans — that are securitised — to assist smaller lenders while also considering making investments in warehouse facilities. On Friday, the AOFM started the operation of the structured fund, by investing $189m across six tranches of Firstmac’s $1bn mortgage bond.

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26 Mar 2020

Firstmac to sound investors for prime RMBS deal (KangaNews)

On 26 March, Firstmac revealed plans for a potential Australian dollar denominated, prime residential mortgage-backed securities (RMBS) deal. ANZ, J.P. Morgan, National Australia Bank and Westpac Institutional Bank have been mandated to engage investors.

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