Aussie covered bond interest grows, but hurdles remain
Australian bankers and lobbyists are taking a closer look at covered bonds following moves by New Zealand’s central bank to develop the product. But scepticism from small lenders and a pending election present extra hurdles for bankers hoping covered bonds will be introduced in the country.
The Reserve Bank of New Zealand encouraged the development of a covered bond market last month in its Financial Stability Report, and funding officials, bankers, lawyers and industry groups in Australia have refocused on a market they have been considering for years.
The recent moves in New Zealand have
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