Commonwealth Bank securitises A$15.6 billion of home loans
Commonwealth Bank Group has created a portfolio of A$15.6 billion of residential mortgage-backed securities (RMBS) through its Medallion Trust. These RMBS will be held by the Group and if required, the Class A notes can be used for repurchase agreements with the Reserve Bank of Australia (RBA) to generate up to an additional $12.25 billion of liquidity for the Group.
The assets of the Trust comprise fixed and variable interest rate mortgage loans originated from the Group’s home loan portfolio and from the portfolio of Homepath Pty Limited, a wholly owned subsidiary.
— www.theasianbanker.com (May 9 2008)–