Residential Mortgage-backed Securities

Scope

Between October 2008 and April 2013, the Australian Office of Financial Management (AOFM) was directed by the Treasurer to invest in Australian Residential Mortgage-Backed Securities (RMBS) to support competition in mortgage lending from a diverse range of lenders. On 10 April 2013, the Treasurer issued a direction to the AOFM to cease making new investments in RMBS. Since this date, the AOFM has been managing its existing investments in RMBS which will be repaid gradually over time. The AOFM may sell RMBS to assist with price discovery or to adjust the portfolio in line with the Treasurer’s Directions. The Treasurer’s Directions are available via the following links:

Further information on the AOFM’s RMBS investment program can be found in AOFM Annual Reports from 2008-09 to 2012-13.

Reporting on RMBS

A summary of AOFM participation in RMBS transactions is available via the following link:

Links to Operational & Public Notices relating to the RMBS Program

TitleDate Released
Sale of Certain RMBS Investments6 June 2014
Sale of Certain RMBS Investments13 March 2014
Sale of Certain RMBS Investments28 February 2014
Sale of Certain RMBS Investments29 October 2013
Sale of Certain RMBS Investments22 May 2013
End of AOFM RMBS Investment Program10 April 2013
Sale of Certain RMBS Investments1 February 2013
Sale of Certain RMBS Investments21 November 2012
Sale of Certain RMBS Investments16 March 2012
Purchase of RMBS – Program Update8 April 2011
Purchase of RMBS – End of Serial Investment Arrangements17 December 2010
RMBS Investments25 May 2010
Sale of Certain RMBS Investments31 March 2010
Purchase of RMBS – Announcement of Serial Investment Arrangements28 January 2010
Purchase of RMBS – Serial Investment Arrangements8 December 2009
Purchase of RMBS – Extended Program7 December 2009
Purchase of RMBS – Announcement of Mandates – Third Selection Round30 September 2009
Purchase of RMBS – Receipt of Third Round of Proposals21 September 2009
Purchase of RMBS – Request for Proposals – Third Selection Round31 August 2009
Purchase of RMBS – Announcement of Further Mandates – Second Selection Round14 July 2009
Purchase of RMBS – Announcement of Further Mandates – Second Selection Round2 June 2009
Purchase of RMBS – Announcement of Further Mandates – Second Selection Round17 April 2009
Purchase of RMBS – Announcement of Further Mandates – Second Selection Round24 March 2009
Purchase of RMBS – Announcement of Mandates – Second Selection Round17 February 2009
Purchase of RMBS – Request for Proposals – Second Selection Round18 December 2008
Purchase of RMBS – Announcement of Further Mandates17 November 2008
Purchase of RMBS – Announcement of Mandates29 October 2008
Purchase of RMBS – Receipt of First Round of Proposals27 October 2008
Purchase of RMBS – Request for Proposals13 October 2008
Treasurer Media Release No. 107 2008: Treasurer Directs the AOFM to Invest in RMBS3 October 2008
Arrangements for the Purchase of Residential Mortgage Backed Securities29 September 2008
Treasurer Media Release No. 105 2008: Government Initiative to Support Competition in Mortgage Market26 September 2008

Economics References Committee: Inquiry into the post-GFC banking sector

  • AOFM Opening Statement – Senate Committee Hearing (21 September 2012) - PDF|RTF