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About AMP
AMP is a leading wealth management companyoperating in Australia and New Zealand, withselected investment management activities in Asiaand a growing banking business in Australia.AMP Financial Services provides financial planning
advice, superannuation, retirement savings and incomeproducts, investments, risk insurance and selected bankingproducts. It has the largest financial planner network inAustralasia, serving over 3.8 million customers.
Part of AMP Financial Services is AMP Bank. AMP Bankis an authorised deposit-taking institution operating as aspecialised home loan lender and loan servicer. The companyprovides loans for the purchase and refinance of residentialproperty, catering to the owner-occupier and investor markets.AMP Bank interacts with customers through financial advisers,mortgage brokers, and directly through call centre and internetchannels. At June 30 2010 AMP Bank managed total homeloan assets of A$9.8 billion.
Securitisation and funding strategy
AMP Bank’s funding strategy is to ensure diverse fundingsources, tenors and types of funding. Securitisation isconsidered part of that strategy. AMP Bank issues RMBS inthe securitisation market both to source funding and to gainregulatory capital relief.
AMP BANK
FOR FURTHER INFORMATION PLEASE CONTACT:
Guy MorganBank Treasurer and Deputy Group Treasurer+61 2 9257 [email protected]
Gwenneth O’SheaHead of Securitisation+61 2 9257 [email protected]/securitisation
RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
A/A2 (S&P/Moody’s)
Yes
Progress Trust
TYPE OF SECURITISATION ISSUED
WHOLESALE FUNDING VOLUME (A$BN)*
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION (%)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$BN)
TOTAL DOMESTIC VS OFFSHORE ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED
ISSUES
RMBS
6.3
37
11
10.95
59% domestic, 41% offshore
A$2.4bn and US$400m
USE OF SECURIT ISATION
WEIGHTED AVERAGE LVR (%)
ARREARS PERFORMANCE VS SPIN: AMP BANK
TOTAL* LMI CLAIMS INFORMATION
LIFE TO DATE CLAIMS PAID (A$M)
LIFE TO DATE TOTAL LOSS (A$M)
LMI PROVIDERS
65
0.63% vs 1.43%
8.2
4.1
Genworth, QBE
USE OF SECURIT ISATION
GEOGRAPHIC BREAKDOWN OF MORTGAGE BOOK
SOURCE: AMP BANK JUNE 30 2010
ASSET SPECIF ICS (PROGRESS 2010-1 TRUST)
* Includes on and off balance sheet loans
All data as at June 30 2010
NSW
43%
VIC
21%
SA
7%
OTHER
13% QLD
16%* All data as at June 30 2010
1 1
About Australian Central Credit Union
O n December 1 2009 Australian Central Credit Union(ACCU) merged with Savings and Loans CreditUnion (S&L). The merger created Australia’s second-largest credit union by total assets – it has over A$7billion under management – and the largest in South
Australia. ACCU has more than 340,000 members servicedthrough over 70 branches in South Australia, NorthernTerritory, Victoria, Western Australia and New South Wales.
ACCU is an authorised deposit-taking institution, is subjectto prudential supervision under Australia’s Banking Act 1959and is regulated by the Australian Prudential RegulationAuthority.
The merger brought together two strong credit unions,with a key focus on continuing to improve products andservices available to members. ACCU’s origins date back to1984 when a number of independent credit unions –themselves with origins going back to the 1960s – cametogether to form ACCU. S&L dates back to 1949, when agroup of South Australian public servants formed the PublicServants Association Savings & Loans Society, which laterbecame Savings & Loans Credit Union.
Securitisation and funding strategy
Securitisation forms an important component of ACCU’sfunding strategy in supporting its continued growth andmaintenance of a balanced funding platform. Since the launchof Light Trust in 2007, ACCU’s strategy in relation to RMBS isto issue on a regular basis, maintaining a presence within theRMBS market and renewal through its warehousing facilities.
AUSTRALIAN CENTRAL CREDIT UNION
FOR FURTHER INFORMATION PLEASE CONTACT:
Grant StrawbridgeSenior Manager Treasury+61 8 8305 [email protected]
John MessentGeneral Manager Finance and Treasury+61 8 8305 [email protected]
RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
Not rated
Yes
Light Trust
TYPE OF SECURITISATION ISSUED
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION (%)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$M)
TOTAL DOMESTIC VS OFFSHORE
ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED
ISSUES (A$M)
RMBS
21
2
613.2
100% domestic
320
USE OF SECURIT ISATION
WEIGHTED AVERAGE LVR (%)
ARREARS PERFORMANCE VS SPIN (%)
LMI CLAIMS INFORMATION
LMI PROVIDER
61
0.63
None
QBEUSE OF SECURIT ISATION
ASSET SPECIF ICS (RMBS)
GEOGRAPHIC D ISTRIBUTION OF MORTGAGE BOOK
SOURCE: AUSTRALIAN CENTRAL CREDIT UNION OCTOBER 2010
OTHER
1%NSW
8%
WA
3%
NT
11%
SA
77%
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About Bank of Queensland
Bank of Queensland (BoQ) is a public companyincorporated with limited liability under the laws ofAustralia. The bank is domiciled in Australia, listed onthe Australian Securities Exchange (ASX) and isregulated by the Australian Prudential Regulation
Authority as an authorised deposit-taking institution. With totalassets under management at August 31 2010 of A$38.7 billion,the bank is one of the country’s top 100 ASX-listed companies.
BoQ operates a widespread network of 255 retail branchesthroughout Australia, including 84 located outside Queensland.A total of 53 branches are owned and operated by the bank,while 202 are owner-managed using BoQ’s innovative owner-managed branch model. The bank’s loans under managementtotal A$32.0 billion, of which residential property loansaccount for A$23.0 billion, SME and commercial loans accountfor A$5.2 billion, and leasing accounts for A$3.8 billion,reflecting the bank’s focus on well-secured housing and SMElending.
Securitisation and funding strategy
BoQ’s funding philosophy has been first and foremost to growsticky retail deposits, then tap a diverse range of wholesalefunding sources. The bank’s assets under management arefunded by retail deposits (48%), short-term wholesale funding(14%), long-term wholesale funding (16%), securitisation(16%) and capital (6%).
BoQ’s diversified funding philosophy is complementedthrough its RMBS and ABS public issues under the REDSprogramme and its REDS RMBS warehouse facilities. Thebank has been a regular issuer in the capital markets under theREDS programme since 1998, having issued over A$12 billion
BANK OF QUEENSLAND
FOR FURTHER INFORMATION PLEASE CONTACT:
Tim Ledingham
Treasurer+61 7 3212 [email protected]
James ShawHead of Securitisation+61 7 3212 [email protected]
RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
BBB+/A2/BBB+ (S&P/Moody’s/Fitch)
Yes
REDS
TYPES OF SECURITISATION ISSUED
PROPORTION OF ASSETS UNDER MANAGEMENT
FUNDED VIA SECURITISATION (%)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED
TOTAL DOMESTIC VS OFFSHORE ISSUANCE
LEVELS
OUTSTANDING VOLUME OF SECURITISED
ISSUES
ABS, RMBS
16
27
Approx. A$15.3bn
Approx. A$13.6bn and
¤1bn (A$1.7bn equiv.)
Approx. A$6bn (incl.
¤375m from two REDSRMBS Trusts and one
REDS EHP Trust)
USE OF SECURIT ISATION
WEIGHTED AVERAGE LVR (%)
ARREARS PERFORMANCE VS SPIN
LMI PROVIDERS
55
REDS arrears have historically trackedaround SPIN. REDS 30+ arrears arecurrently 1.25% (Sep 30 2010)
Genworth, QBE
USE OF SECURIT ISATION GEOGRAPHIC BREAKDOWN – REDS RMBS
SOURCE: BANK OF QUEENSLAND AUGUST 2010
GEOGRAPHIC BREAKDOWN – REDS EHP
SOURCE: BANK OF QUEENSLAND AUGUST 2010
ASSET SPECIF ICS (RMBS)
QLD
67%
NSW
14%
VIC
9%
WA
8%
VIC
18%
OTHER
2%
WA
10%
NSW
20%
OTHER
6%
QLD
46%
of RMBS through 21 separate public bond issues and over A$3billion of ABS (via REDS EHP) through six separate bondissues. BoQ is an experienced servicer and the REDSprogramme has consistently delivered strong collateral pools. Itcontinues to evolve and be responsive to investor needs, whilethe bank’s strategy remains to issue structures which areattractive to investors.
1 3
About Bendigo and Adelaide Bank
T he Bendigo and Adelaide Bank Group was formed inNovember 2007 as a result of the merger betweenBendigo Bank and Adelaide Bank. A publicly-listedcompany, the group has assets under management ofmore than A$50 billion and a market capitalisation of
around A$3.3 billion.Under the Bendigo and Adelaide Bank corporate entity, the
various parts of the business operate under four distinct brands:1. Retail. This business provides banking and wealthmanagement services to individual and small to mediumbusinesses. Operating under the Bendigo Bank brand, the retailbusiness is represented in all states and territories of Australiawith almost 900 outlets, including more than 190 company-owned branches, 250 locally-owned Community Bankbranches, 90 agencies and 800 ATMs.2. Third-party banking. Under the Adelaide Bank brand, the groupprovides mortgages to many Australians via a network ofbrokers and mortgage managers. In addition, the bank’sAlliance Partners business funds third-party credit providers.3. Wealth management. This group is represented by SandhurstTrustees, a trustee company and funds manager; margin lenderLeveraged Equities; Oxford Funding; Bendigo FinancialPlanning; and debenture company Victorian Securities.4. Joint ventures. The bank also participates in a range of jointventures, including Rural Bank (with Elders Ltd) andCommunity Sector Banking (with a consortium of 20 partnersfrom the not-for-profit sector).
Securitisation and funding strategy
Securitisation accounts for 17% of total funding for Bendigoand Adelaide Bank. To date, its RMBS issuance has exceeded
BENDIGO AND ADELAIDE BANK
FOR FURTHER INFORMATION PLEASE CONTACT:
Terry Fountas Investor Relations+61 8 8220 [email protected]/public/shareholders/securitisation
RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
BBB+/A2/BBB+ (S&P/Moody’s/Fitch)
Yes
TORRENS Series
TYPE OF SECURITISATION ISSUED
WHOLESALE FUNDING TOTAL OUTSTANDINGS (A$BN)
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION (%)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$BN)
TOTAL DOMESTIC VS OFFSHORE ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED
ISSUES
RMBS
16.5
51
19
17.5
A$12.5bn onshoreA$5bn equivalent offshore
A$8.5bn equivalentincluding ¤265m
USE OF SECURIT ISATION
WEIGHTED AVERAGE LVR (%)
LMI CLAIMS PAID TO DATE (A$M)
LMI PROVIDERS
64.72
2.86
Genworth, QBE
USE OF SECURIT ISATION
GEOGRAPHIC D ISTRIBUTION OF MORTGAGE BOOK
SOURCE: BENDIGO AND ADELAIDE BANK OCTOBER 2010
ASSET SPECIF ICS (RMBS)
A$17 billion across 19 deals since 1996. Due to the relativelycost-effective pricing that securitisation delivers, the bank willcontinue to use it as a source of funding going forward as longas it makes economic sense to do so.
The bank’s well-established third-party mortgage businessand its Australia-wide branch network mean it can regularly usethe assets written through these channels.
To date, the Australian Office of Financial Managementhas been a valued supporter of Bendigo and Adelaide Bankthrough its initiative to promote competition in the AustralianRMBS market.
ACT
1.31%
TAS
0.25%
VIC
24.85%
WA
6.58%
SA
20.11%
NSW
27.90%
NT
0.13%
QLD
18.87%
ARREARS PERFORMANCE VS SPIN
SOURCE: BENDIGO AND ADELAIDE BANK OCTOBER 2010
Aust Prime SPIN90+ days arrears61-90 days arrears31-60 days arrears
2.0
1.8
1.6
1.4
1.2
1.0
0.8
0.6
0.4
0.2
0
Mar
96
Mar
97
Mar
98
Mar
99
Mar
00
Mar
01
Mar
02
Mar
03
Mar
04
Mar
05
Mar
06
Mar
07
Mar
08
Mar
09
Mar
10
AR
RE
AR
S (%
)
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About Capital Finance Australia
Capital Finance Australia is one of Australia’s leadingasset finance companies providing asset funding toall types of businesses and individuals, with a focuson partnering with customers and offering the rightasset finance solution for their unique needs. It is a
wholly-owned subsidiary of Lloyds International (ultimateparent: Lloyds Banking Group plc).
Capital Finance Australia has two principal business lines:wholesale and retail motor financing and business financing.
Wholesale and retail motor financing
This business comprises a large network of dealer partnerswho are able to offer retail financing options to motor vehiclepurchasers. Dealers are offered a range of wholesale solutionsfor their sales floor stock and support with finance andinsurance locum services.
Business financing
The business financing area provides specialist asset funding tohelp companies achieve their business goals in the most cost-effective way. This area acts as a commercial financier for thegovernment, multinationals and public and private companies.The business financing area strives to create and maintainmeaningful, long-term relationships with both clients andintroducers.
Securitisation and funding strategy
Securitisation is a key funding tool for Lloyds Banking Group,with £37.5 billion of outstanding public issues as at June 302010. The Bella Trust forms a key component of fundingLloyds Banking Group’s Australian businesses and CapitalFinance Australia expects to remain a frequent issuer via thisprogramme.
CAPITAL FINANCE AUSTRALIA
FOR FURTHER INFORMATION PLEASE CONTACT:
Steven Mixter+61 2 8070 [email protected]
RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
N/A
No
Bella Trust
TYPE OF SECURITISATION ISSUED
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$BN)
TOTAL DOMESTIC VS OFFSHORE ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED
ISSUES (A$BN)
Auto receivables ABS
2
1.48
100% domestic
1.08
USE OF SECURIT ISATION
CONTRACTS BY F INANCE TYPE
TERM PURCHASE (%)
SECURED LOAN (%)
CHATTEL MORTGAGE (%)
TYPE OF COLLATERAL
NEW (%)
USED (%)
Bella 2010-1
10.20
44.51
45.29
Bella 2010-1
65.37
34.63
Bella 2009-1
24.88
55.72
19.41
Bella 2009-1
55.77
44.23
USE OF SECURIT ISATION
GEOGRAPHIC BREAKDOWN OF ASSETS:BELLA TRUST 2010-1
SOURCE: CAPITAL F INANCE AUSTRALIA OCTOBER 2010
GEOGRAPHIC BREAKDOWN OF ASSETS:BELLA TRUST 2009-1
SOURCE: CAPITAL F INANCE AUSTRALIA OCTOBER 2010
ASSET SPECIF ICS
NSW
33.53%
QLD
26.19%
ACT
0.53%
WA
15.79%VIC
18.62%
SA
4.25%NT
1.04%
NSW
34.02%
QLD
20.71%
ACT
0.73%
WA
17.04%VIC
21.46%
SA
4.86%
NT
1.08%TAS
0.10%
Delinquency and Loss Experience
For detailed investor reporting please go to:www.lloydsbankinggroup.com/investors/debt_investors/bella.asp
1 5
About Colonial First State Global Asset Management
C olonial First State Global Asset Management (CFSGAM) is the largest manager of Australian-sourcedfunds. It provides asset management services towholesale and institutional investors across a diverserange of domestic and global asset classes, including
Australian and global equities, cash, fixed interest and credit,property securities, listed infrastructure and fund-of-hedge-funds, listed and unlisted property, private equity andinfrastructure.
CFS GAM has a presence in Australia, New Zealand, Asia,Europe, the UK and the Middle East. As at August 31 2010 thefirm had A$148.8 billion in funds under management.
Securitisation and funding strategy
The Colonial First State Capital Management (CFSCM) CMBSprogramme is a real estate securitisation programme involvingfour deferred purchase agreements that are secured byindustrial, retail and office properties throughout Australia.
The programme is supported by mortgages over high-qualityand geographically diverse collateral securities which are ownedby Direct Property Investment Fund and Private PropertySyndicate, two unlisted property funds managed by CFS GAM.The notes issued under Series 1 are direct, unconditional,secured and unsubordinated obligations and rank withoutpreference or priority among themselves.
The CFSCM CMBS programme was first launched in June2007 and has since provided cost-effective funding anddiversification benefits of funding sources to the underlyingproperty funds.
COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT
FOR FURTHER INFORMATION PLEASE CONTACT:
Siu ChanTreasury Adviser+61 2 9303 3489 [email protected] www.cfsgam.com.au
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
No
Colonial First State CapitalManagement CMBS Issuer Series
TYPE OF SECURITISATION ISSUED
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$BN)
TOTAL DOMESTIC VS OFFSHORE
ISSUANCE LEVELS
OUTSTANDING VOLUME OF
SECURITISED ISSUES (A$M)
CMBS
2
1.568
100% domestic
523
SUMMARY PORTFOLIO STATISTICS
WEIGHTED AVERAGE LVR (%)
There are currently 34 properties across theportfolio spread between the commercial, industrial and retail property sectors
26.3 USE OF SECURIT ISATION
GEOGRAPHIC BREAKDOWN OF ASSETS
SOURCE: COLONIAL F IRST STATE GLOBAL ASSET MANAGEMENT OCTOBER 2010
BREAKDOWN OF ASSETS BY COLLATERAL TYPE
SOURCE: COLONIAL F IRST STATE GLOBAL ASSET MANAGEMENT OCTOBER 2010
ASSET SPECIF ICS (CMBS)
OFFICE
62%
RETAIL
27%
INDUSTRIAL
11%
NSW
59%
VIC
14%
QLD
18%
WA
9%
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About CNH Capital Australia
CNH Capital Australia (CNH Capital) is a financialservices company that is part of agricultural andconstruction equipment manufacturer CNH Global.It services the agriculture, construction and transportmarkets. CNH Capital delivers a wide range of
financial products and services to more than half a millioncustomers in Australia, North America, Latin America andEurope. The company markets retail and wholesale financingproducts directly to customers and through the CNH globalnetwork of approximately 11,600 independent dealerships anddistributors in 170 countries.
CNH Capital has more than 50 years of equipment lendingexperience. Its parent, the Fiat Group, was founded more than100 years ago. The Fiat Group is one of the largestconsortiums of automotive manufacturers in the world.
Securitisation and funding strategy
Securitisation remains an important funding option for CNH Capital.
CNH CAPITAL AUSTRALIA
FOR FURTHER INFORMATION PLEASE CONTACT:
Kerrieann McCarronTreasurer+ 61 2 9673 [email protected]
RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
BB+ (S&P)
No
CNH Capital AustraliaReceivables Trust
TYPE OF SECURITISATION ISSUED
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION (%)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$BN)
TOTAL DOMESTIC VS OFFSHORE ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED
ISSUES
ABS
85
6
2.3
100% domestic
A$192m in CNHCapital Australia ReceivablesTrust Series 2009-1
A$255m in CNHCapital Australia ReceivablesTrust Series 2010-1
USE OF SECURIT ISATIONUSE OF SECURIT ISATION
GEOGRAPHIC BREAKDOWN OF CONTRACTS
SOURCE: CNH CAPITAL AUSTRALIA OCTOBER 2010
NSW
27.96%
QLD
12.37%
TAS
1.53%
WA
21.94%
VIC
22.22%
SA
13.83%
ACT
0.06%NT
0.08%
GEOGRAPHIC BREAKDOWN OF CONTRACTS
SOURCE: CNH CAPITAL AUSTRALIA OCTOBER 2010
NSW
26.26%
QLD
14.19%
TAS
1.18%
WA
24.37%
VIC
17.96%
SA
15.81%
ACT
0.14%NT
0.08%
CONTRACTS BY F INANCE TYPE (%)
GOODS MORTGAGE
HIRE PURCHASE
TYPE OF COLLATERAL (%)
NEW
USED
98.22
1.78
78.92
21.08
ASSET SPECIF ICS : CNH CAPITAL AUSTRALIA
RECEIVABLES TRUST SERIES 2009-1
CONTRACTS BY F INANCE TYPE (%)
GOODS MORTGAGE
HIRE PURCHASE
TYPE OF COLLATERAL (%)
NEW
USED
96.89
3.11
85.40
14.60
ASSET SPECIF ICS : CNH CAPITAL AUSTRALIA
RECEIVABLES TRUST SERIES 2010-1
1 7
CREDIT UNION AUSTRALIA
FOR FURTHER INFORMATION PLEASE CONTACT:
Geoff GrantChief Financial Officer+61 7 3365 [email protected]
Jeff UrquhartManager, Treasury and Securitisation+61 7 3365 [email protected]
RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
BBB+ (S&P)
Yes
Harvey Trust Series
TYPE OF SECURITISATION ISSUED
WHOLESALE FUNDING DRAWN TOTAL* (A$BN)
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION (%)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$BN)
TOTAL DOMESTIC VS OFFSHORE
ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED
ISSUES (A$BN)
RMBS
2.14
95
8
4.08
100% domestic
1.59
About Credit Union Australia
C redit Union Australia (CUA) is the largest mutualfinancial institution in Australia and serves its morethan 400,000 members through over 70 brancheswith more than 800 staff. CUA is wholly-owned byits members, not external shareholders. As a mutual
financial institution, CUA’s vision is to become the leadingmember-owned banking alternative in Australia.
Securitisation and funding strategy
Approximately 27% of CUA’s loans under management as atJune 30 2010 have been funded through the Harvey Trustsecuritisation programme. CUA has been an active issuer in theRMBS market since 2003, typically completing one deal eachyear, with securitisation providing the main source of CUA’swholesale funding during this period.
CUA attracted the support of the Australian Office ofFinancial Management as a cornerstone investor into termissues undertaken in 2009 and 2010. The 2009 deal totalledA$482 million while the 2010 transaction was upsized to A$650million from an original A$500 million.
These deals have allowed CUA to continue to offercompetitively-priced products into the Australian residentialmortgage market.
In October 2010 CUA was assigned a wholesale creditrating of BBB+/A-2 with stable outlook from Standard &Poors. While this will facilitate CUA being able to diversify itswholesale funding sources, the firm expects that securitisationwill remain an important element of its funding strategy inthe future.
USE OF SECURIT ISATIONUSE OF SECURIT ISATION
GEOGRAPHIC BREAKDOWN OF MORTGAGE BOOK
SOURCE: CREDIT UNION AUSTRALIA OCTOBER 2010
WEIGHTED AVERAGE SEASONING
PROPORTION MORTGAGE INSURED (%)
WEIGHTED AVERAGE LVR (%)
ARREARS PERFORMANCE VS SPIN (%)
LMI CLAIMS INFORMATION
LMI PROVIDERS
52 monthsFixed 47%, variable 43%Owner-occupied 90%
100
66.2
0.23
No claims to date
Genworth, QBE
ASSET SPECIF ICS (RMBS)
QLD
52%NSW
28%
VIC
18%
WA
1%OTHER
1%* As at June 30 2010
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About FirstMac
F irstMac is a Brisbane-based non-authorised deposit-taking institution operating as a specialised home loanlender and loan servicer. The company provides loansfor the purchase and refinance of residential property,catering to both the owner occupier and investor
markets, including first home buyers. Since the mid-1990sFirstMac has played an integral part in the evolution of thehome loan market into a more competitive environment.
FirstMac has a Standard & Poor’s Strong servicer rating,which reflects the strength of the group’s fully-integrated,web-enabled loan origination, underwriting and servicingplatform, as well as its long history of servicing loans, financialstability, proactive compliance culture and quality assuranceframework.
Securitisation and funding strategy
FirstMac is reliant on the issuance of RMBS in thesecuritisation market to source funding to enable it to continueto provide home loans in competition with the major banklenders.
Since 2008 FirstMac’s funding strategy has been to issuehistorically smaller transaction sizes on a more frequent basis.This maintains a higher percentage of longer-match termfunding and ensures optimum liquidity for the group’s short-term warehousing facilities.
The Australian Office of Financial Management (AOFM)has been a supporter of FirstMac’s issuance programme,including FirstMac becoming the beneficiary of the AOFM’sinaugural RMBS investment in November 2008.
FIRSTMAC
FOR FURTHER INFORMATION PLEASE CONTACT:
James AustinChief Financial Officer+ 61 7 3071 [email protected]
Paul EagarDirector Securitisation+61 2 8298 [email protected]
STANDARD & POOR’S SERVICER RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
Strong
No
FirstMac
TYPE OF SECURITISATION ISSUED
CURRENT WHOLESALE FUNDING VOLUME (A$BN)
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION (%)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$BN)
TOTAL DOMESTIC VS OFFSHORE
ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED
ISSUES ( INCLUDING CURRENCY BREAKDOWN)
RMBS
4.5
90
16
8.8
65% domestic35% offshore
A$3.6bn; A$0.5bn equiv. denominated in EUR
USE OF SECURIT ISATION
WEIGHTED AVERAGE LVR (%)
ARREARS PERFORMANCE VS SPIN (%)
LMI CLAIMS INFORMATION
LIFE TO DATE CLAIMS MADE (A$M)
LIFE TO DATE CLAIMS PAID (A$M)
LMI PROVIDERS
71.0
0.91
19.4
18.5
Genworth, QBE
USE OF SECURIT ISATION
GEOGRAPHIC BREAKDOWN OF MORTGAGE BOOK
SOURCE: F IRSTMAC OCTOBER 2010
ASSET SPECIF ICS (RMBS)
QLD
34%
VIC
16%
SA
14%
OTHER
8%
NSW
28%
1 9
FLEETPARTNERS
FOR FURTHER INFORMATION PLEASE CONTACT:
Andrew DemuraGroup Treasurer+ 61 3 8416 5486 [email protected]
RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
Not rated
No
FP Turbo Trust
TYPE(S) OF SECURITISATION ISSUED
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION (%)
NUMBER OF ABS TRANSACTIONS ON ISSUE
TOTAL VOLUME ISSUED (A$M)
TOTAL DOMESTIC VS OFFSHORE ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED ISSUES (A$M)
Motor vehicle, novated,finance and operating lease-backed
100
2
864.2
100% domestic
864.2
About FleetPartners
F leetPartners provides fleet leasing products to thecorporate business market. Its market share positionsFleetPartners as one of the top three leasingcompanies in Australia and New Zealand. Thecompany is based in Richmond, Victoria with sales
offices throughout Australasia. Currently in excess of 50,000drivers in Australia and New Zealand drive vehicles supportedby FleetPartners’ fleet leasing and management services.
FleetPartners dates back to the 1980s, during which periodANZ formed two joint venture businesses to provide fleetleasing products to the corporate business market. In 1996 thetwo joint ventures were merged into a single legal entity andtraded as under the brand FleetPartners. In November 2006the business was acquired by a private equity group led by aformer and now current FleetPartners chief executive officer,Nick Johnson.
Current shareholders include entities controlled, managedor advised by Government of Singapore InvestmentCorporation, Ironbridge Capital and the senior managementteam of FleetPartners.
Securitisation and funding strategy
FleetPartners aims be a frequent and regular issuer ofAustralian dollar-denominated ABS for all lease types.
USE OF SECURIT ISATIONUSE OF SECURIT ISATION
GEOGRAPHIC BREAKDOWN OF ASSETS
SOURCE: FLEETPARTNERS OCTOBER 2010
CONTRACTS BY LEASE TYPE
TYPE OF COLLATERAL
WEIGHTED AVERAGE L IFE
Novated 19%, Finance 6%, Operating 75%
New 86%, Used 14%
26 months
ASSET SPECIF ICS (RMBS)
NSW
39%
VIC
25%
QLD
20%
SA
5%WA
10%
OTHER
1%
HERITAGE SECURIT ISED LOANS ARREARS VS SPIN
SOURCE: HERITAGE BUILDING SOCIETY JUNE 2010
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About Heritage Building Society
H eritage Building Society (Heritage) is Australia’slargest building society, with approximately A$7.5billion in total consolidated assets as at June 2010. Itis a public company, limited by shares and guarantee,that operates as a mutual organisation. Heritage is an
authorised deposit-taking institution (ADI) and as such isregulated by the Australian Prudential Regulation Authority.Heritage’s head office is situated in Toowoomba, Queensland.
Heritage offers its members a variety of retail bankingproducts and services via a network of branches and mini-branches in South East Queensland, as well as throughmortgage broking intermediary offices across the Easternseaboard and South Australia. Heritage has a prudent riskappetite and does not originate low-doc or no-doc loans.The mutual business structure is an integral component ofHeritage’s operating philosophy.
Heritage has a track record of robust financial performanceover many years and, in the absence of shareholders pressuringfor short-term outcomes, can focus on long-term objectiveswhen making business decisions.
Securitisation and funding strategy
As a growth mutual Heritage relies on the funding and capitalmanagement benefits associated with securitisation.Accordingly, the building society has been an active issuerwithin the mortgage-backed securitisation markets since 2001,when it completed its first public deal. Since that time Heritagehas sponsored nine public Australian dollar and euro-denominated issues under the HBS Trust banner.
HERITAGE BUILDING SOCIETY
FOR FURTHER INFORMATION PLEASE CONTACT:
Paul Williams Treasurer Rob Staskiewicz Senior Structured Finance AnalystStuart Murray Senior Structured Finance AnalystHeritage Treasury +61 7 4694 9500www.heritageonline.com.au
RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
BBB/A3 (S&P/Moody’s)
Yes
HBS Trust
TYPE OF SECURITISATION ISSUED
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED
TOTAL DOMESTIC VS OFFSHORE
ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISEDISSUES
RMBS
Approx. 50%
Nine public deals: six AUD and threeEUR (four redeemed); four AUDwarehouse arrangements; one AUDinternal securitisation arrangement.
Approx. A$5bn in AUDequivalent via nine public deals.
Domestic: approx. 50% of total volume via six public deals. Offshore: approx. 50% of total
volume via three public deals.
Approx. A$2.4bn equivalent,comprising A$1.9bn and ¤310m
USE OF SECURIT ISATIONUSE OF SECURIT ISATION
WEIGHTED AVERAGE LVR (%)
LMI PROVIDERS
ASSET SPECIF ICS (RMBS)
62.1
Permanent (Heritage part-owned),Genworth, QBE
2.0
1.5
1.0
0.5
0
Dec
04
Dec
05
Mar
05
Jun
05
Sep
05
Dec
06
Mar
06
Jun
06
Sep
06
Dec
07
Mar
07
Jun
07
Sep
07
Dec
08
Mar
08
Jun
08
Sep
08
Dec
09
Mar
09
Jun
09
Mar
10
Jun
10
Sep
09
31-60 DAYS 61-90 DAYS 90+ DAYS SPIN INDEX
PE
R C
EN
T
Transactions are typified by low-risk collateral, as evidencedby the extremely low arrears levels experienced withinunderlying mortgage pools.
Heritage’s strategy is to build a sustainable funding baseacross a diversity of channels while maintaining a strong, low-risk franchise in traditional mortgage-backed securitisationmarkets. In addition to its traditional retail deposit base andsecuritisation activities, Heritage has access to a diversity ofwholesale funding options through a multi-faceted wholesaledebt programme. Heritage has also accessed capital markets viaan Australian Securities Exchange-listed retail bond, the first ofits kind by a mutual ADI.
GEOGRAPHIC BREAKDOWN OF MORTGAGE BOOK
SOURCE: HERITAGE BUILDING SOCIETY JUNE 2010
NSW
29.14%QLD
47.60%
SA
1.02%VIC
21.13%
ACT
1.11%
2 1
About IMB
IMB is one of Australia’s largest building societies withassets of more than A$4.6 billion and around 180,000members. Established in 1880, it is also the longest-standing building society in New South Wales (NSW).IMB offers full-service face-to-face and electronic banking
facilities including home and personal lending, savings andtransaction accounts, term deposits, business banking, financialplanning and a wide range of insurance products.
IMB has 41 branches throughout the Illawarra region southof Sydney, Sydney itself, the NSW south coast, the AustralianCapital Territory and Melbourne. Those branches aresupported by an effective mobile lending team and ATMnetwork. IMB also provides commercial loans through brokergroups across Australia.
IMB is regulated by the Australian Prudential RegulationAuthority and the Australian Securities and InvestmentsCommission, and is a member of ABACUS, an independentorganisation representing building societies and credit unions.
Securitisation and funding strategy
IMB is predominantly funded by retail deposits but also has adiverse wholesale funding capability including the use ofsecuritisation to diversify its funding base. Prior to the financialcrisis, IMB was a regular issuer under its Illawarra Trustprogramme. In March 2010 IMB launched a A$300 millionRMBS issue with investment support from the AustralianOffice of Financial Management.
IMB
FOR FURTHER INFORMATION PLEASE CONTACT:
Mark WorkmanTreasurer+61 2 4298 0172
Ian WitheridgeSenior Manager, Finance+61 2 4298 0256www.imb.com.au
RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
BBB (S&P)
Yes
Illawarra Trust
TYPES OF SECURITISATION ISSUED
CURRENT FUNDING TOTAL (A$BN)
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION (%)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$BN)
TOTAL DOMESTIC VS OFFSHORE
ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED
ISSUES (A$BN)
RMBS/CMBS (small ticket)
1.1
100
7 trusts: 5 RMBS; 2 CMBS
2.8
100% domestic
1.1
USE OF SECURIT ISATIONUSE OF SECURIT ISATION
GEOGRAPHIC BREAKDOWN OF MORTGAGE BOOK
SOURCE: IMB OCTOBER 2010
WEIGHTED AVERAGE LVR (%)
ARREARS PERFORMANCE VS SPIN
LMI CLAIMS INFORMATION
LMI PROVIDERS
64.7
> 90 days: 0.01% vs SPIN 0.56%
4 claims made out of 14,900 securitisedloans
Genworth, QBE
ASSET SPECIF ICS (RMBS)
NSW
78%
VIC
8%
QLD
6%ACT
6%
OTHER
2%
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About ING Direct
ING DIRECT – the trading name of ING Bank(Australia) – is a specialist retail direct savings bank. Itoffers customer-focused products in the retail mortgage,innovative direct banking and specialised commercialproperty markets. With approximately A$22 billion in
deposits, A$37 billion in mortgages and 1.4 million customersin Australia, it is the fifth-largest retail bank in the country. INGDIRECT launched in Australia in 1999, its headquarters are inSydney and it has more than 900 staff across the nation.
ING DIRECT is wholly-owned by ING Group, a globalfinancial company offering banking, insurance and assetmanagement. It is the third-largest savings bank and eighth-largest corporation in the world, with more than 85 millioncustomers in over 60 countries and the equivalent of A$2.5trillion in assets. ING Group has 115,000 staff.
Securitisation and funding strategy
The IDOL Trust Series 2010-1, which was issued on October20 2010, was the inaugural external RMBS issuance for INGBank (Australia). This deal was supported by the AustralianOffice of Financial Management, which bought the entireA$250 million A2 tranche.
Securitisation will become a key part of ING Bank(Australia)’s long-term funding mix to complement the existingunsecured medium-term note programme.
ING BANK (AUSTRALIA) (trading as ING DIRECT)
FOR FURTHER INFORMATION PLEASE CONTACT:
Peter CaseyHead of Treasury+61 2 9018 [email protected]
RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
A+ (S&P)
Yes
IDOL Trust Series
TYPE OF SECURITISATION ISSUED
WHOLESALE FUNDING VOLUME* (A$BN)
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION (%)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$M)
TOTAL DOMESTIC VS OFFSHORE
ISSUANCE LEVELS
OUTSTANDING VOLUME OF
SECURITISED ISSUES (A$M)
RMBS
21.2
4
1
900
100% domestic
900
USE OF SECURIT ISATION
WEIGHTED AVERAGE LVR (%)
ARREARS PERFORMANCE VS SPIN
LMI CLAIMS INFORMATION
LMI PROVIDERS USED
67.02
Insufficient history
Insufficient history
GenworthUSE OF SECURIT ISATION
GEOGRAPHIC BREAKDOWN OF MORTGAGE POOL
SOURCE: ING DIRECT OCTOBER 2010
ASSET SPECIF ICS ( IDOL TRUST SERIES 2010-1)
NSW
31.25%QLD
21.22%
WA
5.99%
SA
10.11%
VIC
25.29%
ACT
4.03%
ACT
0.20%TAS
1.92%
* As at September 30 2010
2 3
INVESTEC BANK (AUSTRALIA)
FOR FURTHER INFORMATION PLEASE CONTACT:
Kuin Lee Treasury +61 2 9293 [email protected]
RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
BBB/Baa2 (S&P/Moody’s)
Yes
Impala Trust
TYPE OF SECURITISATION ISSUED
WHOLESALE FUNDING VOLUME* (A$BN)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$M)
TOTAL DOMESTIC VS OFFSHORE ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED
ISSUES (A$M)
ABS
1.485
1
240.7
100% domestic
240.7
USE OF SECURIT ISATIONUSE OF SECURIT ISATION
GEOGRAPHIC BREAKDOWN OF ASSETS
SOURCE: INVESTEC BANK AUSTRALIA MAY 27 2010
*Figures are as at March 31 2010 and do not include term-out done on May 27 2010
SUMMARY PORTFOLIO STATISTICS*
POOL BALANCE (A$M)
NUMBER OF CONTRACTS
AVERAGE CONTRACT SIZE (A$’OOO)
CONTRACTS BY F INANCE TYPE (%)
FINANCE LEASE
CHATTEL MORTGAGE
ASSET LEASE
RENTAL
TYPE OF COLLATERAL (INCL. NEW VS SPLIT)** (%)
MOTOR VEHICLE
MEDICAL EQUIPMENT
COMPUTER EQUIPMENT
DENTAL EQUIPMENT
OFFICE EQUIPMENT & FURNITURE
OTHER ASSETS
237.2
5,005
47,389.03
68.64
17.15
12.69
1.52
44.22
31.31
1.78
21.61
0.77
0.31
ASSET SPECIF ICS ( IMPALA TRUST SERIES 2010-1)
*All figures as at issue date, May 27 2010** Predominantly new assets
NSW
40.99%
VIC
20.74%
WA
6.77%
ACT
1.09%SA
5.57%
QLD
23.48%
NT
0.39%
TAS
0.85%
About Investec Bank (Australia)
I nvestec Bank (Australia) Limited (IBAL) is a wholly-ownedsubsidiary of the Investec Group (Investec), aninternational specialist bank and asset manager listed onthe London and Johannesburg stock exchanges with assetsover £46.6 billion and a market capitalisation of
approximately £4 billion as at March 2010.Investec entered the Australian market in 1997, delivering
unique products and services in private banking, investmentbanking, capital markets, property activities and fundsmanagement to high net worth clients, corporations andinstitutional investors.
During this time, IBAL has grown through a combinationof organic growth and strategic acquisitions such as WentworthAssociates (in 2001), the banking operations of NM Rothschild& Sons (Australia) (in 2006), and Experien, a lending platformfor medical and accounting professionals (in late 2007).
Employing over 400 staff in Australia across Sydney,Melbourne, Brisbane, Adelaide and Perth, IBAL offers adiverse range of investment banking products and services tohigh net worth individuals and their businesses, and to a nichecorporate customer base.
Securitisation and funding strategy
IBAL’s funding strategy is to ensure a diversity of fundingsources, tenors and types to achieve a prudent mix.Securitisation is considered part of its strategy.
The funding strategy aims to:• allow IBAL to grow its lending activities organically andachieve its business objectives in Australia;• afford IBAL the opportunity to explore loan asset acquisitionopportunities that would allow it to strategically position itselfwithin the Australian market; and
• ensure all regulatory requirements in respect of funding andliquidity are met or exceeded on an ongoing basis.The funding strategy includes:• building and diversifying the retail deposit base by increasingproduct functionality, increasing product types, potentiallywidening the deposit target market, and growing the depositbase in terms of number of clients and total book size;• developing and widening the treasury services offered tocorporate clients; and• increasing the portion of wholesale funding sourced fromrelationship-based clients.
IBAL has adopted an ‘over-funded’ strategy to maximisebalance sheet resilience, and continually focuses on diversifyingfunding sources.
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About Liberty Financial
L iberty Financial (Liberty) is a leading diversified financialservices company that offers a broad range of creditand retail investment products across Australia andNew Zealand. Liberty’s credit expertise spans residentialand commercial mortgages, auto and equipment loans,
dealer floorplan and invoice receivables finance.Liberty remains one of few issuers worldwide that have not
experienced any charge-offs, outlook warnings or downgradesto any security ever issued from any of its programmes.
Securitisation and funding strategy
Liberty has been an active participant in the securitisationmarkets for over 10 years and has successfully completed 22deals totalling approximately A$10 billion. Furthermore,Liberty has been able to issue seven securitisations to continuebusiness lending throughout the recent market dislocation.
Liberty has supported its funding programme with arigorous approach to servicing, and has received favourableservicer ratings from Standard & Poor’s.
Liberty remains committed to maintaining a sound financialbase to underpin its funding activities, of which securitisationwill remain an important component. In addition tosecuritisation, Liberty accesses wholesale facilities, commercialpaper markets and a growing retail investor base.
Since inception, Liberty has been able to generate stableprofitability. This has allowed the company to increase itsequity capital to more than A$200 million. Liberty issupported by its banking partners – Credit Suisse, DeutscheBank and National Australia Bank.
LIBERTY FINANCIAL
FOR FURTHER INFORMATION PLEASE CONTACT:
Peter RiedelGeneral Manager, Treasury+61 3 8635 [email protected]
Rebecca SimsCommunications Adviser+61 3 8635 [email protected]
S&P SERVICER RATING (PRIME MORTGAGES)
S&P SERVICER RATING (NON-PRIME MORTGAGES)
S&P SERVICER RATING (AUTO LOANS)
S&P SERVICER RATING (COMMERCIAL MORTGAGES)
SECURITISATION PROGRAMME NAME
Strong
Strong
Strong
Above average
Liberty
TYPES OF SECURITISATION ISSUED
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$BN)
CURRENCIES ISSUED
ABS, CMBS and RMBS
22
Approx. 10
AUD, EUR, NZD and USD
USE OF SECURIT ISATIONUSE OF SECURIT ISATION
LMI CLAIMS INFORMATION
CLAIMS MADE TO DATE
CLAIMS PAID TO DATE
LMI PROVIDERS USED
Zero
Zero
Genworth, QBE
GEOGRAPHIC BREAKDOWN: AUSTRALIAN RMBS
SOURCE: L IBERTY F INANCIAL SEPTEMBER 30 2010
ASSET SPECIF ICS (ABS, CMBS, RMBS)
NSW
26%
QLD
16%
SA
9%
OTHER
6%
VIC
26%
WA
17%
GEOGRAPHIC BREAKDOWN: AUSTRALIAN CMBS
SOURCE: L IBERTY F INANCIAL SEPTEMBER 30 2010
NSW
22%
WA
42%
SA
9%
OTHER
7%
VIC
9%
QLD
11%
GEOGRAPHIC BREAKDOWN: AUSTRALIAN ABS
SOURCE: L IBERTY F INANCIAL SEPTEMBER 30 2010
NSW
32%
QLD
34%
SA
5%
OTHER
3%
VIC
19%
WA
7%
2 5
MACQUARIE GROUP
SMART PROGRAMME
RATINGS
SECURITISATION PROGRAMME NAMES
A-/A2/A (Macquarie Group) (S&P/Moody’s/Fitch)A/A1/A+ (Macquarie Bank) (S&P/Moody’s/Fitch)
SMART, PUMA Masterfund (for AUD issuance),PUMA Global Trust (for USD issuance)
ASSET SPECIF ICS (ABS)*
AUSTRALIAN ADI
Macquarie Securitisation Limited (manager of the PUMA RMBS programme) andMacquarie Securities Management Pty Limited (manager of the SMART auto andequipment lease programme) are wholly-owned subsidiaries of Macquarie Bank Limited,which is a regulated ADI and part of Macquarie Group Limited.
About Macquarie Group
M acquarie Group (Macquarie) is a global providerof banking, financial, advisory, investment andfunds management services. Macquarie acts onbehalf of institutions, corporate and retail clientsand counterparties around the world. Founded in
1969, Macquarie operates in more than 70 office locations in 28countries and employs more than 14,600 staff. At June 30 2010Macquarie had assets under management of A$343 billion.
Macquarie is listed in Australia (ASX: MQG) and isregulated by the Australian Prudential Regulation Authority,the Australian banking regulator, as a non-operating holdingcompany of an authorised deposit-taking institution,Macquarie Bank.
Securitisation and funding strategy
Macquarie has been a leading participant in the securitisationmarket since 1991. It uses securitisation primarily to providefunding diversification. Issuance activity is a function of thelevel of business activity and group liquidity requirements.
Macquarie mainly uses securitisation to fund consumer andsmall-ticket commercial receivables originated and managed bythe group. Macquarie-sponsored securitisation programmeshave been regular issuers in the US, European, Asian andAustralian capital markets since 1993. The firm has two strongissuer brands: PUMA, which is used to fund Australian, insuredresidential mortgages and SMART, which is used to fundAustralian auto and equipment leases. Smaller asset portfoliosare securitised on an ad hoc basis.
The company’s Canadian mortgage business alsoparticipates in the Canadian Mortgage Bond programme and isan issuer of NHA mortgage-backed securities.
Macquarie generally retains some credit exposure to thecollateral through residual interests and reputational riskthrough management and servicing of collateral.
* As at August 31 2010
TYPE OF SECURITISATION ISSUED
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION (%)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$BN)
TOTAL DOMESTIC
VS OFFSHORE ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED ISSUES
ABS
48
8 (5 AUD; 2AUD/EUR; 1 USD)
6.6
A$4bn domesticA$2.6bn equiv. offshore
6 issues: A$2.1bn
A$800m domestic; A$1.3bnequivalent offshore
USE OF SECURIT ISATIONUSE OF SECURIT ISATION
PORTFOLIO S IZE (A$BN)
ASSET BREAKDOWN (%)
MOTOR VEHICLES NEW
MOTOR VEHICLES USED
OTHER
EARTH-MOVING EQUIPMENT
ELECTRICAL MACHINERY
PORTFOLIO BY F INANCE PRODUCT
NOVATED
CHP
CHATTEL MORTGAGE
FINANCE LEASE
4.5
63
27
6
3
1
53
21
20
6
GEOGRAPHIC BREAKDOWN OF LEASING BOOK
SOURCE: MACQUARIE GROUP AUGUST 31 2010
NSW
37%
QLD
15%
SA
3%
NT
1%TAS
1%
VIC
28%WA
12%
ACT
4%
ARREARS PERFORMANCE: SMART
SOURCE: MACQUARIE GROUP AUGUST 31 2010
1.8
1.6
1.4
1.2
1.0
0.8
0.6
0.4
0.2
0.0
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
30-60 NON-ACCRUAL (61+DPD)
Nov03
May 04
Nov04
May 05
Nov05
May 06
Nov06
May 07
Nov07
May 08
Nov08
May 09
Nov09
May 10
PORTFOLIO SIZE A$M
AR
RE
AR
S (%
)
VO
LU
ME
(A
$M
)
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PUMA PROGRAMME
FOR FURTHER INFORMATION PLEASE CONTACT:
Adrian BentleyExecutive Director, Group Treasury+61 2 8232 8584+61 411 269 [email protected]
Matthew O’HareDivision Director, Group Treasury+61 2 8237 3481+61 404 870 [email protected]
TYPE OF SECURITISATION ISSUED
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED
OUTSTANDING VOLUME OF SECURITISED ISSUES
TOTAL OUTSTANDING DOMESTIC
VS OFFSHORE LEVELS
RMBS
60% of Australian mortgage book is fundedthrough securitisation
45 (34 domestic, 11 offshore)
A$41.1bn (A$23.4bndomestic, A$17.7bn equiv.offshore)
A$8.0bn via 24 issues (22domestic, 2 offshore)
A$6.5bn domestic, A$1.5bnequiv. offshore
USE OF SECURIT ISATIONUSE OF SECURIT ISATION
MORTGAGE PORTFOLIO S IZE (A$BN)
WEIGHTED AVERAGE CURRENT LVR (%)
LMI PROVIDERS USED
13
67.5
Genworth (62%), QBE(37%), Other (1%)
ASSET SPECIF ICS (RMBS)*
CURRENCY
USD
¤
AUD
TOTAL (A$M EQUIV.)
TOTAL ISSUANCE (M)
10,500
400
24,023
41.087
OUTSTANDINGS (M)*
707
144
6,830
8,021
* As at September 30 2010
* As at August 31 2010
The table above depicts the LMI claims history in respect of all PUMA full-doc and low-docterm issues since 1993 to August 31 2010
LMI CLAIMS INFORMATION*
ISSUETYPE
AUD
Euro-$
Globa l
TOTAL
ISSUE S IZE (A$M)
22,413
4,986
12,714
40,113
A$M
46.20
0.49
9.64
56. 32
A$M
0.93
0.00
0.09
1 .02
% TOTAL
0.21
0.01
0.08
0.14
% OF CLAIMS
2.01
0.00
0.91
1 .81
LMI CLAIMS LMI CLAIMS REDUCTION BONDHOLDER LOSSES
Zero
Zero
Zero
ZERO
GEOGRAPHIC BREAKDOWN OF MORTGAGE BOOK
SOURCE: MACQUARIE GROUP AUGUST 31 2010
NSW
40.6%
QLD
24.6%
ACT
2.9%
SA
2.8%TAS
0.7%
VIC
18.1%
WA
10.1%
NT
0.2%
AR
RE
AR
S (%
)A
RR
EA
RS
(%
)
ARREARS PERFORMANCE VS SPIN: PUMA LOW-DOC TERM ISSUES
SOURCE: MACQUARIE GROUP AUGUST 31 2010
7
6
5
4
3
2
1
0
Jan
07
Sep
07
Mar
07
May
07
Jul 0
7
Nov
07
Jan
08
Sep
08
Mar
08
May
08
Jul 0
8
Nov
08
Jan
09
Sep
09
Mar
09
May
09
Nov
09
Jan
10
Mar
10
May
10
Jul 1
0
Jul 0
9
30 DAYS 60 DAYS 90+ DAYS LOW-DOC SPIN
ARREARS PERFORMANCE VS SPIN: PUMA FULL-DOC TERM ISSUES
SOURCE: MACQUARIE GROUP AUGUST 31 2010
3
2
1
0
Jan
07
Apr
07
Jul 0
7
Oct 0
7
Jan
08
Apr
08
Jul 0
8
Oct 0
8
Jan
09
Apr
09
Jan
10
Apr
10
Jul 1
0
Jul 0
9
Oct 0
9
30 DAYS 60 DAYS 90+ DAYS SPIN
2 7
About ME Bank
M E Bank is owned by 33 industry superannuationfunds and provides low-cost home loans andbanking products to its membership base. MEBank was created in 1999, although its origins dateback to September 1994 when, as an initiative of
the Australian Council of Trade Unions, National Mutuallaunched Super Member Home Loans.
ME Bank’s goal has always been to give industry super fundmembers better value banking and better service with a no-nonsense approach to borrowing and with products that are simple, straightforward and offer value for money toworking Australians.
Securitisation and funding strategy
ME Bank has been an active RMBS issuer in the past and willcontinue to support the market through continued issuance ofhigh-quality RMBS transactions under both the SMHL andMaxis securitisation programmes.
Through ME bank’s subsidiary, ME Portfolio Management(MEPM), the SMHL programme has issued over A$33 billionof public term issuance since its inaugural transaction in 1995and the Maxis programme has issued over A$3 billion. Inaddition, MEPM is the manager of the A$1 billion Mustangasset-backed commercial paper programme.
ME BANK
FOR FURTHER INFORMATION PLEASE CONTACT:
Paul GarveyGeneral Manager, Funding and Financial Markets+61 3 9605 [email protected]
RATING
SERVICER RATINGS
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAMES
BBB/A2 (S&P/Moody’s)
Strong (S&P), SQ2 (Moody’s),2 (Fitch)
Yes
Maxis Loans Securitisation Fund,SMHL Global Fund, SMHLSecuritisation Fund, SMHL Trust
TYPE OF SECURITISATION ISSUED
WHOLESALE FUNDING VOLUME* (A$BN)
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION (%)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$BN)
TOTAL DOMESTIC VS OFFSHORE
ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED
ISSUES
* As at September 30 2010
RMBS
15.7
83
45
37
A$18.5bn
US$10bn
¤ 2.2bn
A$6.9bnUS$1.6bn
¤ 600m
USE OF SECURIT ISATION
WEIGHTED AVERAGE LVR (%)
ARREARS PERFORMANCE VS SPIN
LMI CLAIMS INFORMATION
LMI PROVIDERS
61
30+ days = 0.78%
A$1.26m of claims over all securitisation
issues with no losses charged off on notes
Genworth 99%, HLIC 1%
USE OF SECURIT ISATION GEOGRAPHIC BREAKDOWN OF MORTGAGE BOOK
SOURCE: ME BANK SEPTEMBER 30 2010
ASSET SPECIF ICS (RMBS)
ACT
9%
QLD
14%
SA
6%
WA
15%
VIC
27%
TAS
5%NT
1%
NSW
23%
2 8 | K A N G A N E W S / A N Z S E C U R I T I S A T I O N Y E A R B O O K N O V E M B E R 2 0 1 0
ISSUERPROFILES
About MyState Financial
M yState Financial (MSF) is a Tasmanian-basedauthorised deposit-taking institution. Thecompany employs more than 280 staff andservices more than 120,000 customers through 12branches within Tasmania. The firm offers
personal and commercial lending, mortgage lending, overdrafts,credit cards, term deposits, insurance, financial planningservices and risk insurance.
MSF was formed through the merger of Island State CreditUnion and Connect Financial on July 1 2007. Both ConnectFinancial and Island State Credit Union were the culminationof credit union mergers across Tasmania since 1959.
More recently, MSF demutualised as part of the mergerwith Tasmanian Perpetual Trustees. MyState Financial is now awholly-owned subsidiary of MyState Limited, which is a non-operating company, approved by the Australian PrudentialRegulation Authority and listed on the Australian SecuritiesExchange.
Securitisation and funding strategy
MSF looks to use securitisation to fund approximately 20-25%of the funding portfolio through RMBS and asset-backedcommercial paper issuance.
MYSTATE FINANCIAL
FOR FURTHER INFORMATION PLEASE CONTACT:
William McShaneTreasurer+61 3 6211 2624www.mystate.com.au
RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAMES
Not rated
Yes
ConQuest TrustConQuest Securities
TYPE OF SECURITISATION ISSUED
WHOLESALE FUNDING VOLUME FY11 (A$M)
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION (%)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$M)
TOTAL DOMESTIC VS OFFSHORE ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED
ISSUES (A$M)
RMBS, ABCP
559.68
76.21
3
549.01*
100% domestic
426.53
USE OF SECURIT ISATIONUSE OF SECURIT ISATION
GEOGRAPHIC BREAKDOWN OF MORTGAGE BOOK
SOURCE: MYSTATE F INANCIAL OCTOBER 2010
*Figure includes the joint securitisation undertaken by MyState Financial and
Queenslanders Credit Union in 2007
WEIGHTED (BY CLB) AVG. CURRENT LVR (%)
LMI CLAIMS INFORMATION
LMI PROVIDERS
61.11
Nil
Genworth, QBE
ASSET SPECIF ICS (RMBS)
TAS
90.66%
NSW
2.03%
QLD
6.18%
SA
0.09%
VIC
0.98%
CONQUEST 2007-1 ARREARS HISTORY
SOURCE: MYSTATE F INANCIAL OCTOBER 2010
60-90 daysin arrears
90+ days inarrears
PRIMESPIN
2.00
1.75
1.50
1.25
1.00
0.75
0.50
0.25
0.00
% O
F T
OTA
L P
OR
TFO
LIO
IN
AR
REA
RS
> 3
0 D
AY
S
30-60 daysin arrears
Sep
08
Oct
08
Nov
08
Dec
08
Jan
09
Feb
09
Ma
r 0
9
Ap
r 0
9
May
09
Jun
09
Jul 0
9
Au
g 0
9
Sep
09
Oct
09
Nov
09
Dec
09
Jan
10
Feb
10
Ma
r 10
Ap
r 10
May
10
Jun
10
Jul 1
0
Au
g 10
Sep
10
2 9
About Pepper Australia
P epper Australia (Pepper) – trading as PepperHomeloans – is a highly experienced specialitymortgage lender, third-party loan servicer and assetmanager. The company’s underwriting philosophy,credit, loan servicing, collections and asset recovery
procedures have been developed on the basis of more than 20years of specialist mortgage lending experience, tried and testedin the UK and Australia.
Pepper commenced operations in Australia in March 2001and is now recognised as one of Australia’s leading providers ofspeciality residential mortgage finance.
Pepper is also recognised as Australia’s pre-eminent specialservicer of residential and commercial mortgage assets,including non-conforming and low-documentation mortgages.
Pepper is now a wholly-owned subsidiary of Pepper Group(Singapore), a Singapore-incorporated holding company ownedby Seumas Dawes and a group of private co-investorsincluding IRG Limited, Jonathan Laredo and Steven Simpson.The Australian Securities and Investments Commission issuedan Australian financial services licence to Pepper in May 2005.
As at July 31 2010, Pepper had approximately A$2.1 billionof loan and lease assets under management (comprising primeand non-conforming residential mortgages, commercialmortgages, equipment leases and small business loans), includingA$700 million of Pepper-originated residential mortgages.
Securitisation and funding strategy
Like most non-bank lenders, Pepper relies on wholesalewarehouse financing facilities to fund its lending activities.Currently these are provided by Commonwealth Bank ofAustralia and National Australia Bank and managed through the
PEPPER AUSTRALIA
FOR FURTHER INFORMATION PLEASE CONTACT:
Patrick TuttleManaging Director & CEO+61 2 9463 [email protected]
Todd LawlerChief Financial Officer+61 2 8913 [email protected]
STANDARD & POOR'S SERVICER RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
Above average
No
Pepper Residential Securities (PRS)
TYPE OF SECURITISATION ISSUED
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$BN)
TOTAL DOMESTIC VS OFFSHORE ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED
ISSUES
RMBS
7
2.2
A$245m with a furtherA$525m outstanding acrossvarious warehouse trusts
Pepper Mortgage Warehouse Trusts 2006-1 and 2008-1. PepperFinance Corporation is the trustee of these warehouse trustsand Pepper is the trust manager and servicer. Pepper reliesalmost entirely on securitisation for long-term funding purposes.
Pepper has completed seven RMBS issues in the Australianmarket for a total value of A$2.2 billion via its proprietary PRSprogramme. Since commencement of the financial crisis in 2007,Pepper has successfully exercised or refinanced all call optionsunder its PRS programme, including PRS4 (A$60 million) inNovember 2008 and PRS5 (A$80 million) in July 2010.
USE OF SECURIT ISATIONUSE OF SECURIT ISATION
GEOGRAPHIC BREAKDOWN OF MORTGAGE BOOK
SOURCE: PEPPER AUSTRALIA OCTOBER 2010
ACT
3%
QLD
22%
WA
21%
SA/NT
7%
TAS
3%
NSW
24%
VIC
20%
WEIGHTED AVERAGE LVR
LMI CLAIMS INFORMATION
Typically ranges between 71%-74% for PRS issues
N/A (specialist residential mortgages are not mortgage insured, by definition)
ASSET SPECIF ICS (RMBS)
All PRS programme issuance to date has been in Australian dollars. Historically, the PRSdeals have been supported by Australian domestic fixed income investors with as muchas 40% of securities within any individual issue being acquired by a combination ofEuropean and Asian-based fixed income investors.
ARREARS PERFORMANCE VS SPINPEPPER CUMULATIVE ARREARS HISTORY
SOURCE: PEPPER AUSTRALIA OCTOBER 2010
18
16
14
12
10
8
6
4
2
0
Mar
01
Sep
01
Mar
02
Sep
02
Mar
03
Sep
03
Mar
04
Sep
04
Mar
05
Sep
05
Mar
06
Sep
06
Mar
07
Sep
07
Mar
08
Sep
08
Mar
09
Sep
09
Mar
10
Sep
10
30-59DAYS
60-89DAYS
90+ DAYS LOANS UNDERMANAGEMENT
S&P SPIN
AR
RE
AR
S (%
)
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
VO
LU
ME
(A
$M
)
3 0 | K A N G A N E W S / A N Z S E C U R I T I S A T I O N Y E A R B O O K N O V E M B E R 2 0 1 0
ISSUERPROFILES
About Resimac
R esimac was formed as a non-bank lender in 1985. Itoffers a suite of prime and specialist lendingproducts tailored to the residential market sourcedfrom the third-party distribution network ofmortgage brokers and mortgage managers.
Originally created to service and securitise residential loansfor HomeFund as a New South Wales state governmenthousing programme under the name of Fanmac, Resimac hasevolved to become a wholesale lender providing manyAustralian borrowers with a lending alternative to the bankingsector.
Resimac was the first Australian RMBS issuer, debuting inthe market in 1988. Since then it has issued over A$11 billionthrough 17 domestic and international RMBS issues.
Resimac is Australian-owned, and headquartered in Sydney.It is supported by key strategic partners including Bank of NYMellon, Barclays Capital, Deutsche Bank, National AustraliaBank and Perpetual Trustee Company.
Securitisation and funding strategy
Resimac as a non-bank financial institution uses thesecuritisation markets for the funding of its business. Thefunding strategy is to continue to securitise on a regular basis.Historically this has included multi-currency offshore issuance,but in more recent times the issuance has been focused on thedomestic market, with the Australian Office of FinancialManagement (AOFM) providing vital cornerstone support.This investment support from the AOFM has facilitatedResimac’s continued lending throughout the financial crisis.
RESIMAC
FOR FURTHER INFORMATION PLEASE CONTACT:
Mary PloughmanDirector, [email protected]+61 2 9248 0308www.resimac.com.au
STANDARD AND POOR'S SERVICER RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAMES
Strong
No
Resimac PremierResimac NIM
66.19
23.81
70.89
Genworth, QBE
TYPES OF SECURITISATION ISSUED
WHOLESALE FUNDING VOLUME FY10 (A$BN)
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION (%)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$BN)
TOTAL DOMESTIC VS OFFSHORE
ISSUANCE LEVELS
CURRENCY BREAKDOWN OF OUTSTANDINGS
RMBS, NIM BOND
3.4
71
19
11.6
40% domestic
60% offshore
AUD: 67%EUR: 20%GBP: 13%
USE OF SECURIT ISATIONUSE OF SECURIT ISATION
ASSET SPECIF ICS (RMBS)
FULL-DOC LOANS (%)
LOW-DOC LOANS (%)
WEIGHTED AVERAGE LVR (%)
LMI PROVIDERS
GEOGRAPHIC BREAKDOWN OF MORTGAGE BOOK
SOURCE: RESIMAC OCTOBER 2010
NSW
47.89%
QLD
18.74%
VIC
20.30%
TAS
1.15%SA
4.02%WA
6.01%ACT
1.61%
NT
0.28%
ARREARS PERFORMANCE VS SPINRESIMAC PRIME RMBS TRUSTS HISTORICAL ARREARS
SOURCE: RESIMAC OCTOBER 2010
30-60DAYS
61-90DAYS
90+ DAYS SPIN
4
3
2
1
0
2004 2005 2006 2007 2008 2009 2010AR
RE
AR
S M
OR
E T
HA
N 3
0 D
AY
SA
S %
OF T
OTA
L P
OR
TFO
LIO
(%
)
3 1
About Suncorp Metway
S uncorp Metway (Suncorp) is a unique, diversifiedfinancial services group with well-known businessesin general insurance, banking, life insurance andwealth management. Suncorp is a top 25 AustralianSecurities Exchange-listed company with over A$95
billion in assets. It has more than 16,000 employees andrelationships with over seven million customers.
Suncorp Bank is Australia’s fifth-largest listed bank. From aQueensland base, Suncorp has expanded its banking operationsthroughout Australia with its most recent expansion being inWestern Australia. As a true regional bank, Suncorp servicesnearly one million customers through personal lending –including home and personal loans, savings and transactionaccounts, margin lending, credit cards and foreign currencyservices. The bank also services small- to medium-sizedenterprises as well as rural producers and associated businessesin rural and regional areas.
Securitisation and funding strategy
Since 1999 Suncorp has been a consistent issuer of primeRMBS through its APOLLO securitisation brand.Securitisation is an important part of the wholesale fundingpackage for Suncorp, however it only represents a modest 8%of overall funding for the balance sheet. Suncorp will continueto issue RMBS as part of the suite of funding tools available toan A+ rated bank.
APOLLO has completed 16 public securitisation trustssince 1999 and five since the start of the financial crisis inAugust 2007. Two of these transactions have been supportedby the Australian Office of Financial Management.
SUNCORP METWAY
FOR FURTHER INFORMATION PLEASE CONTACT:
Simon LewisHead of Funding+61 7 3362 [email protected]
Maddalena GowingSecuritisation Specialist+61 7 3362 [email protected]
RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
A+/A1/A+ (S&P/Moody’s/Fitch)
Yes
APOLLO
TYPE OF SECURITISATION ISSUED
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION (%)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$BN)
TOTAL DOMESTIC VS OFFSHORE ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED
ISSUES
RMBS
8
16
17.8
A$10.9bnUS$825m¤ 2.3 billionDomestic 79.45%Offshore 20.55% (based onnotes only, not investor)
A$3.9bnUS$32m¤ 586m
USE OF SECURIT ISATIONUSE OF SECURIT ISATION
GEOGRAPHIC BREAKDOWN OF MORTGAGE BOOK
SOURCE: SUNCORP METWAY OCTOBER 2010
QLD
56%NSW
21%
VIC
11%
WA
8.2%
ACT
2%SA
1.3%TAS
0.5%
WEIGHTED AVERAGE LVR (%)
ARREARS PERFORMANCE VS SPIN
LMI CLAIMS INFORMATION
LMI PROVIDER
62.5
SPIN 1.43% vs APOLLO at 1.14%
Claims as % of total issue size: 0.015%
QBE
ASSET SPECIF ICS (RMBS)
Suncorp’s most recent transaction, APOLLO Series 2010-1, is reflective of the whole portfolio’s
geographic breakdown.
3 2 | K A N G A N E W S / A N Z S E C U R I T I S A T I O N Y E A R B O O K N O V E M B E R 2 0 1 0
ISSUERPROFILES
About Wide Bay Australia
W ide Bay Australia (Wide Bay) is the largestfinancial institution in Australia based north ofBrisbane, with assets in excess of A$2.7 billion.With its head office in Bundaberg, Wide Bay hasa retail branch network consisting of 42
branches in Queensland extending from Robina on the GoldCoast to Cairns. It also has a branch in both Sydney andMelbourne and a lending agency in Adelaide. Approximately78% of loans originate through retail branches using WideBay’s own lending consultants.
Wide Bay helps Australians achieve home ownership and tocontinue building their wealth. For investors, the firm providesfinancial opportunities that offer attractive and secure returns.It offers an extensive range of loans, savings and investments,insurance, foreign exchange and banking services.
Wide Bay’s innovative business is based on a foundation ofstrength, consistent growth and profitability. The years aheadwill herald an exciting new era for the group with furthernational growth and expansion planned.
Securitisation and funding strategy
In 1997 Wide Bay was one of the first unrated non-bankfinancial institutions in Australia to use securitisation as aliquidity management tool. Wide Bay launched the largesttriple-A rated, high-LVR mortgage loan securitisation in theAustralian market in August 2000.
Wide Bay has continued to use RMBS securitisation as afunding tool, with approximately 45% of its funding derivedfrom RMBS securitisation programmes.
WIDE BAY AUSTRALIA
FOR FURTHER INFORMATION PLEASE CONTACT:
Dale HancockManager, Structured Finance, Products and Interstate Operations+61 7 4150 [email protected]
RATING
AUSTRALIAN ADI
SECURITISATION PROGRAMME NAME
BBB- (S&P)
Yes
WB Trusts
TYPE OF SECURITISATION ISSUED
PROPORTION OF OUTSTANDING WHOLESALE
FUNDING SOURCED VIA SECURITISATION (%)
NUMBER OF SECURITISATIONS ISSUED
TOTAL VOLUME ISSUED (A$BN)
TOTAL DOMESTIC VS OFFSHORE
ISSUANCE LEVELS
OUTSTANDING VOLUME OF SECURITISED
ISSUES (A$M)
RMBS
95
9
>3
100% domestic
950.9(as at June 30 2010)
USE OF SECURIT ISATIONUSE OF SECURIT ISATION
WEIGHTED AVERAGE LVR (%)
LMI CLAIMS INFORMATION
LMI PROVIDERS
67.74
Nil
Genworth, Mortgage Risk Management(Captive LMI)
ASSET SPECIF ICS WB TRUST 2009-1
GEOGRAPHIC BREAKDOWN OF MORTGAGE BOOK
SOURCE: WIDE BAY AUSTRALIA OCTOBER 2010
QLD
83.11%
VIC
7.23%
SA
0.54%
NSW
9.12%
ARREARS PERFORMANCE VS SPIN
SOURCE: WIDE BAY AUSTRALIA OCTOBER 2010
31-60DAYS
61-90DAYS
90+ DAYS AUST PRIME SPIN
5
4
3
2
1
0
Jul 9
7
Jan
98
Jul 9
8
Jan
99
Jul 9
9
Jan
00
Jul 0
0
Jan
01
Jul 0
1
Jan
02
Jul 0
2
Jan
03
Jul 0
3
Jan
04
Jul 0
4
Jan
05
Jul 0
5
Jan
06
Jul 0
6
Jan
07
Jul 0
7
Jan
08
Jul 0
8
Jan
09
Jul 0
9
Jan
10
AR
RE
AR
S (%
)