Non-banks to benefit from US-dollar securitisation
By
Andrea Cornish
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2/07/2010 5:50:00 AM
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Smaller lenders and non-banks in Australia could get a much-needed boost by repackaging asset-backed debt into US-dollar securities.
Members Equity and Macquarie Group demonstrated earlier this week that there is a demand for US-dollar asset-backed securities from foreign investors, after their bids received a warm reception.
The issues are the first US-dollar securitisations by Australian banks since before the GFC.
According to a report in The Wall Street Journal, if the deals succeed other lenders could be keen to follow.
Competition in Australian has been reduced over the last two years as non-banks and smaller lenders have found it increasingly difficult to find funding.
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