On 11 March, Macquarie Bank (Macquarie) launched its auto asset-backed securities (ABS) deal, SMART ABS Series 2019-1 (SMART 2019-1). The forthcoming transaction has A$500 million (US$351.7 million) preplaced, subject to final approval, and is likely to be upsized, with the Class A notes capped at A$1 billion. Pricing is expected on 15 March.