APRA's APS210 delay anticipated by market – and broadly welcomed
Sources in the bank funding and liquidity management sectors say the extension to the Australian Prudential Regulation Authority (APRA)'s process of revising its capital and liquidity requirements – which was revealed in a letter from the regulator to authorised deposit-taking institutions (ADIs) on December 18 – came as no surprise. And the response to the extension is generally positive, with most arguing it is worth taking the necessary time to produce the best possible outcome.Westpac doubles size of RMBS return to A$2 billion
Westpac Banking Corporation (Westpac)'s (AA/Aa1/AA-) first residential mortgage-backed securities (RMBS) deal since May 2007 was upsized to A$2 billion (US$1.76 billion) for pricing on December 18. The Series 2009-1 WST Trust (WST 2009-1) was launched as an offering of a minimum of A$920 million in class A senior notes, with a further A$80 million divided between two subordinated tranches.