Bank so-and-so "secures the best RMBS pricing so far this year" blared one headline just six weeks ago.The bank, and issuer, was ME and the pricing was 118 basis points over the bank bill swap rate on A$1.38 billion of A1 notes, which had a weighted average life of 2.7 years.ME's transaction: SMHL Series Securitisation Fund 2016-1, for A$1.5 billion in all, a prime portfolio.But ANZ Kingfisher Trust RMBS last week landed 11 basis points nearer to zero on a $2 billion deal, 92 per cent of it rolled up and priced at 107 bps over swap.It continues a theme of funding costs falling across 2016 for RMBS-supported mortgage funders, some banks, some not.The sweet pricing on a component of routine domestic funding stands in contrast to a brush with a shortfall on a recent ANZ covered bond placement in Europe.The Cover reported on a "luckless Aussie issuer" that struggled to drum up   demand for a EUR750 million "barely subscribed seven year issue".ANZ's "technically weaker" New Zealand subsidiary sold more than twice that two months ago, The Cover pointed out.