As followed in the posts Time to 'short' Australia's housing bubble we discovered that the AOFM or Australian Office of Financial Management are using 16billion dollars (AUD) taxpayer backstops to fund smaller/mid level lenders. On top of an already housing mega bubble in Australia, the AOFM have already posted losses, when the Australian property market starts to turn down (and it appears to be on the way for a huge price slide) the RMBS losses should be eye bleeding
An RMBS dump and pump onto a government balance sheet list as follows:
"AOFM PURCHASES OF RMBS"
"Pricing Date" "Settlement Date" Issuer "Issue Name" Tranche "Expected WAL at closing (years)" "Coupon
(per cent)" "Original Face Value ($m)"
2008/11/14 2008/11/21 FirstMac "FirstMac Mortgage Funding Trust Series 2-2008" "Class A1" 0.7 "1M BBSW + 1.25%" 132
2008/11/14 2008/11/21 FirstMac "FirstMac Mortgage Funding Trust Series 2-2008" "Class A2" 3.5 "1M BBSW + 1.50%" 325
2008/11/14 2008/11/21 FirstMac "FirstMac Mortgage Funding Trust Series 2-2008" "Class AB" 5 "1M BBSW + 1.80%" 39
2008/11/17 2008/12/09 "Members' Equity Bank" "SMHL Securitisation Fund 2008-2" "Class A1" 2.8 "1M BBSW + 1.30%" 500
2008/12/04 2008/12/12 Challenger "Challenger Millennium Series 2008-2 Trust" "Class A" 2.8 "1M BBSW + 1.35%" 481
2008/12/04 2008/12/12 Challenger "Challenger Millennium Series 2008-2 Trust" "Class AB" 4.5 "1M BBSW + 1.75%" 19
2008/12/10 2008/12/15 RESIMAC "RESIMAC Premier Series 2008-1" "Class A2" 1.5 "1M BBSW + 1.20%" 280
2008/12/10 2008/12/15 RESIMAC "RESIMAC Premier Series 2008-1" "Class A3" 4.5 "1M BBSW + 1.40%" 204.75
2008/12/10 2008/12/15 RESIMAC "RESIMAC Premier Series 2008-1" "Class AB" 4.5 "1M BBSW + 1.70%" 15.25
2009/03/06 2009/03/26 CUA "Series 2009-1 Harvey Trust" "Class A1" 3.6 "1M BBSW + 1.40%" 350
2009/03/13 2009/03/18 "Bendigo and Adelaide Bank" "TORRENS Series 2009-1 Trust" "Class A2" 4.2 "1M BBSW + 1.35%" 475
2009/03/23 2009/03/30 "AMP Bank" "Progress 2009-1 Trust" "Class A2" 4 "1M BBSW + 1.30%" 425
2009/04/03 2009/04/21 "Bank of Queensland" "Series 2009-1 REDS Trust" "Class A1" 4.2 "1M BBSW + 1.30%" 500
2009/04/09 2009/04/20 "Liberty Financial" "Liberty Prime Series 2009-1" "Class A1" 0.1 "1M BBSW + 0.90%" 14.5
2009/04/09 2009/04/20 "Liberty Financial" "Liberty Prime Series 2009-1" "Class A2" 0.9 "1M BBSW + 1.20%" 164.7
2009/04/09 2009/04/20 "Liberty Financial" "Liberty Prime Series 2009-1" "Class A3" 3.2 "1M BBSW + 1.40%" 283
2009/04/09 2009/04/20 "Liberty Financial" "Liberty Prime Series 2009-1" "Class AB" 4 "1M BBSW + 1.65%" 37.8
2009/04/15 2009/04/24 Challenger "Challenger Millennium Series 2009-1 Trust" "Class A2" 0.5 "1M BBSW + 1.00%" 38.2
2009/04/15 2009/04/24 Challenger "Challenger Millennium Series 2009-1 Trust" "Class A3" 1.5 "1M BBSW + 1.30%" 152.5
2009/04/15 2009/04/24 Challenger "Challenger Millennium Series 2009-1 Trust" "Class A4" 4.3 "1M BBSW + 1.45%" 289
2009/04/15 2009/04/24 Challenger "Challenger Millennium Series 2009-1 Trust" "Class AB" 4.4 "1M BBSW + 1.70%" 20.3
2009/05/11 2009/05/14 "Members' Equity Bank" "SMHL Securitisation Fund 2009-1" "Class A2" 3.7 "1M BBSW + 1.35%" 500
2009/05/21 2009/05/28 RESIMAC "RESIMAC Premier Series 2009-1" "Class A2" 0.5 "1M BBSW + 1.00%" 10
2009/05/21 2009/05/28 RESIMAC "RESIMAC Premier Series 2009-1" "Class A3" 2.9 "1M BBSW + 1.40%" 435
2009/05/21 2009/05/28 RESIMAC "RESIMAC Premier Series 2009-1" "Class AB" 4.1 "1M BBSW + 1.70%" 13.8
2009/06/01 2009/06/05 FirstMac "FirstMac Mortgage Funding Trust Series 1-2009" "Class A3" 2.9 "1M BBSW + 1.40%" 458
2009/06/01 2009/06/05 FirstMac "FirstMac Mortgage Funding Trust Series 1-2009" "Class AB" 5 "1M BBSW + 2.20%" 40.62
2009/07/09 2009/07/16 "Wide Bay Australia" "WB Trust 2009-1" "Class A1" 0.5 "1M BBSW + 1.10%" 16
2009/07/09 2009/07/16 "Wide Bay Australia" "WB Trust 2009-1" "Class A2" 3.5 "1M BBSW + 1.40%" 282.5
2009/07/09 2009/07/16 "Wide Bay Australia" "WB Trust 2009-1" "Class AB" 5.4 "1M BBSW + 1.60%" 1
2009/07/14 2009/07/28 "Australian Central Credit Union" "Light Trust No. 2" "Class A1" 4 "1M BBSW + 1.30%" 190
2009/08/20 2009/09/04 "Suncorp Metway" "APOLLO Series 2009-1 Trust" "Class A3" 3.6 "1M BBSW + 1.30%" 499.2
2009/08/28 2009/09/11 "Greater Building Society" "GBS Receivables Trust No. 4" "Class A1" 4.3 "1M BBSW + 1.35%" 190
2009/10/14 2009/10/21 "Liberty Financial" "Liberty Prime Series 2009-2" "Class A2" 1.04 "1M BBSW + 0.90%" 35
2009/10/14 2009/10/21 "Liberty Financial" "Liberty Prime Series 2009-2" "Class A3" 3.34 "1M BBSW + 1.40%" 58.5
2009/10/14 2009/10/21 "Liberty Financial" "Liberty Prime Series 2009-2" "Class AB" 3.97 "1M BBSW + 1.65%" 6.3
2009/10/21 2009/10/28 RESIMAC "RESIMAC Premier Series 2009-2" "Class A2" 3.3 "1M BBSW + 1.40%" 38.1
2009/10/21 2009/10/28 RESIMAC "RESIMAC Premier Series 2009-2" "Class AB" 3.5 "1M BBSW + 1.95%" 18.3
2009/11/10 2009/11/24 FirstMac "FirstMac Mortgage Funding Trust Series 2-2009" "Class A2" 3.5 "1M BBSW + 1.40%" 195.4
2009/11/10 2009/11/24 FirstMac "FirstMac Mortgage Funding Trust Series 2-2009" "Class AB" 5 "1M BBSW + 1.95%" 19.74
2010/01/22 2010/01/29 "AMP Bank" "Progress 2010-1 Trust" "Class AB" 5.2 "1M BBSW + 1.80%" 36
2010/02/09 2010/02/17 "Bank of Queensland" "Series 2010-1 REDS Trust" "Class A" 3.1 "1M BBSW + 1.30%" 250
2010/02/25 2010/03/10 CUA "Series 2010-1 Harvey Trust" "Class A1" 2.9 "1M BBSW + 1.35%" 143
2010/03/05 2010/03/15 "Members' Equity Bank" "SMHL Securitisation Fund 2010-1" "Class A" 2.6 "1M BBSW + 1.35%" 250
2010/03/17 2010/03/24 "Bendigo and Adelaide Bank" "TORRENS Series 2010-1 Trust" "Class A" 2.8 "1M BBSW + 1.35%" 123
2010/03/26 2010/03/31 IMB "Illawarra Series 2010-1 RMBS Trust" "Class A" 3 "1M BBSW + 1.35%" 157.5
2010/05/12 2010/05/17 RESIMAC "RESIMAC Premier Series 2010-1" "Class A" 2.4 "1M BBSW + 1.65%" 10
2010/05/28 2010/06/09 "Suncorp Metway" "APOLLO Series 2010-1 Trust" "Class A2" 6 "1M BBSW + 1.10%" 300
2010/07/02 2010/07/14 "Members' Equity Bank" "SMHL Securitisation Fund 2010-2E" "Class A3" 5.7 "1M BBSW + 1.10%" 250
2010/07/08 2010/07/20 "Bendigo and Adelaide Bank" "TORRENS Series 2010-2 Trust" "Class A3" 3 "1M BBSW + 1.10%" 19.5
2010/07/08 2010/07/20 "Bendigo and Adelaide Bank" "TORRENS Series 2010-2 Trust" "Class A4" 5.8 "1M BBSW + 1.10%" 476.5
2010/07/23 2010/08/04 "MyState Financial" "ConQuest 2010-2 Trust" "Class A2" 1.5 "1M BBSW + 1.40%" 20
2010/07/23 2010/08/04 "MyState Financial" "ConQuest 2010-2 Trust" "Class A3" 5 "1M BBSW + 1.30%" 139.25
2010/07/23 2010/08/04 "MyState Financial" "ConQuest 2010-2 Trust" "Class AB" 3.7 "1M BBSW + 1.85%" 10.75
2010/08/11 2010/08/18 "Liberty Financial" "Liberty Prime Series 2010-1" "Class A2" 3.3 "1M BBSW + 1.25%" 90
2010/08/11 2010/08/18 "Liberty Financial" "Liberty Prime Series 2010-1" "Class AB" 4 "1M BBSW + 1.65%" 10.4
2010/08/18 2010/08/27 "Bank of Queensland" "Series 2010-2 REDS Trust" "Class A2" 6.2 "1M BBSW + 1.10%" 497.6
2010/08/26 2010/09/02 "Macquarie Bank" "PUMA Masterfund P-16" "Class A3" 6.3 "1M BBSW + 1.15%" 247.5
2010/09/06 2010/09/09 FirstMac "FirstMac Mortgage Funding Trust Series 1-2010" "Class A3" 4.7 "1M BBSW + 1.30%" 164
2010/09/06 2010/09/09 FirstMac "FirstMac Mortgage Funding Trust Series 1-2010" "Class AB" 3.6 "1M BBSW + 2.20%" 26.77
2010/09/23 2010/09/28 "Members' Equity Bank" "SMHL Securitisation Fund 2010-3" "Class A2" 6.1 "1M BBSW + 1.10%" 290
2010/10/14 2010/10/20 "ING Bank (Australia)" "IDOL Trust Series 2010-1" "Class A2" 7.5 "1M BBSW + 1.10%" 250
2010/11/10 2010/11/18 "Australian Central Credit Union" "Light Trust No. 3" "Class A3" 5.4 "1M BBSW + 1.20%" 243.5
11758.73
`
"ISSUES SUPPORTED BY THE AOFM"
"These are transactions supported by the AOFM under Operational Notices 25/2009 and 26/2009"
Date Issuer Arranger "Issue Name"
2010/01/15 "AMP Bank" "Westpac and Deutsche Bank" "Progress 2010-1 Trust"
2010/01/29 "Bank of Queensland" "Deutsche Bank" "Series 2010-1 REDS Trust"
2010/02/22 CUA Westpac "Series 2010-1 Harvey Trust"
2010/03/03 "ME Bank" Westpac "SMHL Securitisation Fund 2010-1*"
2010/03/10 "Bendigo and Adelaide Bank" "Deutsche Bank" "TORRENS Series 2010-1 Trust"
2010/03/22 IMB Westpac "Illawarra Series 2010-1 RMBS Trust"
2010/05/05 RESIMAC NAB "RESIMAC Premier Series 2010-1*"
2010/05/25 "Suncorp Bank" "Suncorp Bank" "APOLLO Series 2010-1 Trust"
2010/06/28 "ME Bank" NAB "SMHL Securitisation Fund 2010-2E*"
2010/07/06 "Bendigo and Adelaide Bank" NAB "TORRENS Series 2010-2 Trust"
2010/07/23 "MyState Financial" Westpac "ConQuest 2010-2 Trust"
2010/08/04 "Liberty Financial" "Deutsche Bank" "Liberty Prime Series 2010-1"
2010/08/16 "Bank of Queensland" NAB "Series 2010-2 REDS Trust"
2010/08/19 "Macquarie Bank" "Macquarie Bank" "PUMA Masterfund P-16"
2010/09/06 FirstMac NAB "FirstMac Mortgage Funding Trust Series 1-2010*"
2010/09/16 "ME Bank" "Deutsche Bank" "SMHL Securitisation Fund 2010-3"
2010/10/07 "ING Bank (Australia)" "Macquarie Bank" "IDOL Trust Series 2010-1"
2010/11/04 ACCU NAB "Light Trust No. 3"
from the Australian office of Financial Management
Bubblepedia (Australian website tracking the housing bubble)
*sorry for the long post, for Aust readers.
No comments:
Post a Comment