APRA reveals Australian second-tier liquid assets standard: repo eligibility [UPDATED]
On December 17 the Australian Prudential Regulation Authority (APRA) released its approach to meeting the Basel Committee on Banking Supervision (Basel committee)'s bank liquid assets standards. Banks will be allowed to make up any shortfall in government-type debt with a committed secured liquidity facility containing as collateral any assets eligible for repo with the Reserve Bank of Australia (RBA).Pepper closes 2010 with A$260 million low-doc RMBS
Pepper Homeloans (Pepper) closed its A$260 million (US$257 million) residential mortgage-backed securities (RMBS) deal on December 20, in the first non-conforming RMBS to come to the Australian market since the financial crisis. While prime loans comprise 60 per cent of the pool, loans extended to borrowers with prior credit impairment make up 40 per cent and loans extended on a limited documentation basis represent 66.9 per cent of the pool.NZDMO increases 2010/11 issuance programme by NZ$1 billion
The New Zealand Debt Management Office (NZDMO) announced on December 14 that its government bond issuance programme for 2010/11 has been increased to NZ$13.5 billion (US$10.1 billion) from the previous target of NZ$12.5 billion. As the half-way point of the financial year approaches the NZDMO has completed NZ$7.8 billion of borrowing in 2010/11.IFC's A$650 million 2015 Kangaroo tap includes A$250 million FRN [UPDATED]
International Finance Corporation (IFC) (AAA/Aaa) priced an increase to its March 2015 Kangaroo line on December 15, including in the deal its first-ever floating rate Kangaroo tranche. The deal comprises A$400 million (US$397.8 million) of fixed rate paper as a tap to the existing line alongside A$250 million of floating rate notes (FRNs) of the same maturity.