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ABS Performance Watch: Record RMBS Issuance Dominates Australian Market Sep 01 Product Image

ABS Performance Watch: Record RMBS Issuance Dominates Australian Market Sep 01

  • Published: September 2001
  • Region: Australia
  • Standard & Poors

FEATURED COMPANIES

  • Heritage Bank Ltd.
  • Mitsubishi Motors Corp.
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Abstract
The Standard & Poor's Australian Mortgage Performance Index (SPIN) was 1.09% for the quarter ended June 30, 2001, a slight improvement from 1.11% in the March quarter. The SPIN peaked, however, in May at 1.21%, which was consistent with the trend evident at the end of the previous quarter. Standard & Poor's does not expect any material improvement in the SPIN during the current quarter even though interest rates are at historical lows and consumer confidence is returning. Overall, delinquencies remain low compared to other major offshore markets. The equivalent of A$9.4 billion of residential mortgage-backed securities (RMBS) were issued during the June quarter, increasing the total RMBS issued for the first half of the year to more than $15.3...

Companies mentioned in this report are:
- Australia (Commonwealth of) (Unsolicited Ratings)
- Australia and New Zealand Banking Group Ltd.
- Commonwealth Bank of Australia
- State Bank of New South Wales Ltd.
- Citibank (New York State), Pittsford
- Mitsubishi Motors Corp.
- Challenger Mortgage Management Pty Ltd.
- Members Equity Bank Pty Ltd.
- Heritage Bank Ltd.
- Interstar Millennium READ MORE >

- Australia (Commonwealth of) (Unsolicited Ratings)
- Australia and New Zealand Banking Group Ltd.
- Commonwealth Bank of Australia
- State Bank of New South Wales Ltd.
- Citibank (New York State), Pittsford
- Mitsubishi Motors Corp.
- Challenger Mortgage Management Pty Ltd.
- Members Equity Bank Pty Ltd.
- Heritage Bank Ltd.
- Interstar Millennium Series 2001-1E Trust
- JEM (Riverside) No. 1 Pty Ltd.

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