NAB completes buyback of A$730 million of guaranteed 2012s [UPDATED]
On December 8, National Australia Bank (NAB) (AA/Aa1/AA) completed an offer to buy back its March 2012, government-guaranteed fixed and floating rate line, having successfully retired A$730 million (US$718 million) of paper. Investors were offered a buyback price of swap flat, compared to the margin of 60 basis points over swap and bank bill swap rate (BBSW) when the bonds were originally priced in March 2009.
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APRA to offer transitional treatment of securitisation capital relief
The Australian Prudential Regulation Authority (APRA) has revealed plans to introduce an eased capital treatment regime for residential mortgage-backed securities (RMBS), with the intention of allowing authorised deposit-taking institutions (ADIs) more access to capital relief while market conditions remain challenged. However, the regulator stresses the new treatment will be a transitional measure.
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