Australian covered bonds to be preferred to RMBS: Moody’s

22 Nov 2011

Higher-rated banks in Australia will prefer issuing debt in the covered bonds market rather than the residential mortgage-backed securities (RMBS) market, says the ratings agency.

While lower-rated banks below the ‘AA’ range will continue to issue residential mortgage-backed securities (RMBS) higher-rated banks will likely opt to issue covered bonds.

The lower-rated banks, which have mortgage pools with less diversity and higher outstanding debt, make up a larger proportion of the RMBS market, resulting in ...

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