The Australian Office of Financial Management supported 12 public securitisation transactions during the September quarter but was required to invest in only two of them.
The AOFM used its Structured Finance Support Fund, which was set up in March to support the securitisations of smaller lenders, to invest in a Metro Finance issue and a Firstmac issue.
It invested in the equivalent of 56 per cent of the A$300 million Metro Finance deal and 0.3 per cent of the $1.3 billion FirstMac deal.
Both those transactions were done in early July and there were another 10 transactions during the quarter that did not require AOFM investment. Issuers included Columbus Capital, AFG, Resimac, CNHI Capital, Pepper, Bluestone, Liberty, RedZed and Mortgage House.
Total transaction value during the quarter was $7.9 billion (excluding one eligible non-ADI RMBS for which SFSF support was not sought).
At the end of September the AOFM had committed a total of $1.4 billion through the SFSF since the beginning of the program, supporting 21 transactions worth $13.9 billion.
In the private market, in total the SFSF has committed around $2.1 billion to 39 individual warehouses sponsored by 29 lenders. It made 15 warehouse investments in the September quarter.
Sixty-three trusts sponsored by five originators were approved for inclusion in the Forbearance SPV. The first draw on the fSPV occurred in September.