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Tuesday, 06 April 2021

Australian securitisers avert disaster in EU regulatory overhaul

The outcome of new EU securitisation regulations that passed into law on 25 March is more positive for Australian issuers than was feared when the changes were first proposed, intermediaries say. Some challenges remain, but it now seems likely that the worst-case scenario – European investors being effectively precluded from participation in Australian-origin transactions – has been averted.

Tuesday, 06 April 2021

Consistent data required for labelled securitisation

The dearth of consistent data and reporting standards is likely the primary factor holding back green, social and sustainability-linked securitisation issuance in Australia, according to speakers at an Australian Securitisation Forum webinar. If such issuance did come to market it would likely be well received on the buy side.

Tuesday, 23 March 2021

Securitisation industry confident ahead of EU regulation amendments reading

Changes to the EU’s securitisation regulation proposed late in 2020 have been a thorn in the side for Australia’s securitisation industry in the opening months of the year. The amendments put a prohibition of investment from EU-based entities on the cards. However, with a date approaching for the proposals’ reading in the EU parliament, industry figures are confident the issues will be resolved.

Friday, 19 February 2021

AOFM reviving ABSF with enhanced purpose from stalled 2020

Nearly a year since the Australian Office of Financial Management (AOFM) deployed its first investment from the Australian Business Securitisation Fund (AOFM), the government debt-management agency is seeking to reinvigorate its mandate to develop the SME financing market. COVID-19 forced a focus on emergency liquidity mechanisms and put the ABSF on hold, but the AOFM believes the experience may now allow it to fast-track its longer-term ABSF aims.

Tuesday, 19 May 2020

AOFM and ASF give update on forbearance SPV

The Australian Office of Financial Management (AOFM) and Australian Securitisation Forum (ASF) are finalising terms for a forbearance special-purpose vehicle (SPV), designed to provide relief to nonbank and small bank lenders with securitisation trusts affected by forbearance on loans as a result of COVID-19.

Monday, 06 January 2020
Dec/Jan 2019/2020

Investors on QE watch for 2020

The prospect of QE in Australia has loomed ever larger over the market in 2019 as the Reserve Bank of Australia (RBA) has moved into an easing cycle and the cash rate has approached the zero lower bound with little sign of a significant economic rebound. At Australian Securitisation 2019 in November, prominent Australian debt investors cast their eyes over the likelihood of Australian QE, what a local regime might look like, the potential consequences and what alternatives there are to stimulate the economy.

Wednesday, 25 September 2019

ASF canvassing the market on IBOR reform

The Australian Securitisation Forum (ASF) is consulting with market participants on interest-rate benchmark reform as it relates to securitisation. The consultation comes amid accelerating global moves to adopt alternative reference rates and fallback language, and ongoing questions about the resilience of the Australian securitisation market’s most commonly used benchmark.

Friday, 03 May 2019
Jun/Jul 2019

ASF spreads the word

As part of its goal of developing global investor engagement with Australasian asset-backed securities, the Australian Securitisation Forum hosts an annual showcase in London. Taking place on 10 June this year, the event attracted a raft of institutional investors to hear more about the Australian housing market and securitisation product.

Wednesday, 15 May 2019

Finding new investors key for securitisation through the cycle, says report

The Australian Securitisation Forum (ASF) and Perpetual Corporate Trust (Perpetual)’s Australian Securitisation Issuer Report 2019 highlights the continued importance of finding new investors to ensure the ongoing viability of securitisation issuance through the cycle. Consistent issuance is found to be the most effective, but in lieu of this issuers say innovation in assets and structure can help attract and retain investors.

Friday, 03 May 2019
Apr/May 2019

Across the mutual sector

The first-ever KangaNews Mutual Sector Wholesale Funding Seminar took place in Sydney on 13 February 2019. As well as an in-depth exploration of the present and future of mutual funding strategy, the seminar covered a range of themes relevant to the sector including securitisation, the Australian housing market, investor relations and the forthcoming, federal-government backed, Australian Business Securitisation Fund.