Australian fund managers still wary of securitised liquidity premiums
Australian fund managers say they are relatively unconcerned about the credit quality of domestic securitised paper, but their views on pricing and liquidity are still some way from making them cost-efficient funders of wider competition in the mortgage market. And while there is some optimism about the progress the market has made in 2010 real money managers also admit there is a long way to go.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.IFFIm debut Kangaroo: World Bank discusses strategy and setup of new issuer
In the wake of the November 23 placement of the A$400 million (US$386.8 million) inaugural Kangaroo bond from the International Finance Facility for Immunisation (IFFIm) (AAA/Aaa/AAA), the issuer's treasury manager, World Bank, has exclusively talked to KangaNews about why IFFIm is unique among supranationals and the factors underpinning its triple-A ratings.