TCorp remains on course with CPI funding programme
Despite the revision of its overall funding programme as a result of the November 11 New South Wales (NSW) mini budget, NSW Treasury Corporation (TCorp) has an unchanged commitment to sourcing inflation-linked funding and has confirmed it will go ahead with the next fixed tender for this scheme on November 20.RMBS: outside investors nibble as AOFM bites
The first two transactions brought to market on the back of the Australian Office of Financial Management (AOFM)'s commitment to an A$8 billion (US$3.89 billion) injection into the Australian RMBS sector saw some interest from fund managers, with around A$200 million of the total A$1.2 billion priced being sold to non-AOFM investors.Westpac NZ revives stalled 2013 domestic
The 2013 domestic transaction which Westpac New Zealand (AA/Aa2) (Westpac) postponed in mid-September reopened on November 12, although a retail brokerage premium added to the latest incarnation of the deal means the issuer will pay a higher price for its debt.Internal securitisation pool reaches A$100 billion-plus
The aggregate value of mortgage pools internally securitised in 2008 by Australian banks to create repo-eligible assets has passed the A$100 billion (US$66.4 billion) mark, while the size of Reserve Bank of Australia (RBA)’s repo book has more than doubled since the credit crisis began to over A$60 billion.TCorp borrowing increase marginal following mini budget
New South Wales Treasury Corporation (TCorp) says its funding requirement for the 2008/9 financial year will increase to A$5.3 billion (US$3.56 billion), from the previous expected level of A$4.9 billion , following the November 11 mini budget proposed by the state of New South Wales (NSW).