debt funds, mortgage trusts and RMBS funds (35 items)

Mutuals rattled amid S&P ratings clutter

Around a dozen mutual banks or credit unions, including one ASX listed bank, find their debt securities ineligible for use in repurchase operations with the Reserve Bank of Australia as of yesterday, thanks to an S&P Global Ratings downgrade that yanked the credit ratings of this group one notch lower.Quick punditry by sell-side analysts on the debt side settled on the smaller, and mostly mutual ADIs as the sub-set of Australian banks whose cost of funds in institutional markets may be most affected by the ratings jolt. read more

Briefs: Moore's irrelevance, and RBA tone softens

We've worked out readers find our news briefs pretty useful. Some days the briefs get more readers than views on the lead article and hits on other stories the editors thought warranted more time and length.Today's collation picks the best of the routine news flow since Friday morning. Old hat if you're a heavy business news consumer. It's a service for others. (And even select tasters for Monday's edition of Banking Day.)The routine news flow - thanks to the Fairfax strike since Wednesday - had a different calibre on Friday and today. Our brief on the RBA missive of the day, its Statement on Monetary Policy and its muted media reception elaborates. read more

Merchant finance yield in decline for Latitude

Latitude Finance Australia is breaking new ground in the debt capital market, as the first financier to put a master trust structure to work in an asset-backed transaction. But the yield on the store finance and credit card business of Latitude, formerly GE Capital Finance, is on the wane, according to pre-sale reports from two credit ratings agencies. read more

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