Banks urged to 'flex' as Victoria battens down the hatches (AFR)

Data on loan deferrals released by the prudential regulator and by Firstmac provided new insight into the $274 billion worth of frozen loans as of the end of June, which was 3 per cent higher than a month earlier. 

Before the tougher Victorian lockdown was introduced, Firstmac had seen a steady improvement in the number of customers with deferred loans. The number with fully or partially suspended repayments had fallen to 5.1 per cent at the end of July from 5.65 per cent on May. 

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10 Jul 2020

Firstmac completes $1.3bn RMBS raising (Australian Broker)

Non-bank lender Firstmac Limited has announced its completion of a $1.3 billion RMBS raising, with over $2 billion in orders.

In a statement, Firstmac said that the issue was oversubscribed “from an early stage” and was supported by 31 institutions.

The roadshow for the RMBS issue was the first to be done entirely online, as COVID-19 travel restrictions made the usual face-to-face meetings throughout Europe, Asia, and the US impossible.

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