On 9 May, expected ratings were assigned by S&P Global Ratings and Moody's Investors Service to AMP Bank's residential mortgage-backed securities (RMBS) deal, Progress 2019-1 Trust. The deal has indicative total volume of A$750 million (US$523.1 million). ANZ, Commonwealth Bank of Australia, Deutsche Bank, MUFG Securities and National Australia Bank were mandated for the deal on 3 May.