Part 5: Other Information

Contents

1 Funding
2 Agency resource statement and resources for outcomes
3 Grant programmes
4 Advertising and market research
5 Freedom of information
6 Ecologically sustainable development
7 Structure of the AOFM’s portfolio
8 Residential mortgage-backed securities portfolio
9 Tender results for debt issuance

Funding

Table 1 places the AOFM’s asset and liability management activities in 2013‑14 in the context of budget financing for the Australian Government and in particular as it covers the General Government Sector. Flows managed by the AOFM are shown in purple.

Table 1: General Government Sector funding requirement and funding sources
Source of funds	Actual 2013-14 ($billion)	Use of funds	Actual 2013-14 ($billion)
		Headline budget balance	52.5
Debt issuance(a)		Debt redemption(a)
Treasury Bonds	82.1	Maturing Treasury Bonds	22.6
Treasury Indexed Bonds	7.5	Early CGS debt repurchases	3.7
		Treasury Notes (net)	0.6
Total	89.6	Total	27.0

		Financial assets
		Change in deposits at RBA	7.0
		Change in other general government sector investments	0.8
		Total	7.7

		Other applications of funds
		Other financing (net)(b)	2.4
		Total	2.4

Total	89.6	Total	89.6

(a) Cash flows rather than face value of securities.

(b) Includes other general government sector flows not elsewhere classified.

Not all totals may sum exactly due to rounding.

Agency resource statement and resources for outcomes

Table 2: AOFM resource statement
		Actual available appropriation 2013-14 $’000	Payments made 2013-14 $’000	=	Balance 2013-14 $’000
Ordinary annual services
Departmental appropriation(a)(b)		40,347	14,774	(c)	25,573
Receipts from other sources (s30 & s31)(d)		649	649		–
Total departmental		40,996	15,423		25,573
Administered expenses
Outcome 1		10	–		10
Total administered		10	–		10
Total ordinary annual services	A	41,006	15,423		25,583
Other services
Departmental non-operating		162	162	(c)	–
Total other services	B	162	162		–
Total available annual appropriations (A + B)		41,168	15,585		25,583
Special appropriations non-capital					–
Commonwealth Inscribed Stock Act 1911		15,889,716	15,889,716		–
Financial Agreement Act 1994		278	278		–
Financial Management and Accountability Act 1997		1,899	1,899		–
Loans Securities Act 1919		489	489		–
Subtotal		15,892,382	15,892,382		–
Special appropriations capital
Commonwealth Inscribed Stock Act 1911		44,842,317	44,842,317		–
Financial Management and Accountability Act 1997		676,000,000	676,000,000		–
Subtotal		720,842,317	720,842,317		–
Total special appropriations	C	736,734,699	736,734,699
Total appropriations excluding special accounts (A + B + C)		736,775,867	736,750,284		25,583
Special Accounts
Debt Retirement Reserve Trust Account
Opening balance		742	–		–
Appropriation receipts		20	–		–
Non-appropriation receipts to special account					–
Interest amount credited		19	–		–
State and Territory contributions		62	–		–
Payments made		–	–		–
Total Special Account	D	843	–		843
Total net resourcing and payments for AOFM (A + B + C + D)		736,776,710	736,750,284		26,426

(a) Actual available appropriation comprises Appropriation Bill (No.1) 2013‑14 plus carried forward appropriation balances as at 1 July 2013.

(b) Includes capital budget appropriation for 2013-14 of $0.408 million.

(d) Receipts received under sections 30 and 31 of the Financial Management and Accountability Act 1997.

Table 3: Expenses and resources for Outcome 1
Outcome 1: The advancement of macroeconomicgrowth and stability and the effective operationof financial markets, through issuing debt, investing in financial assets and managing debt, investments and cashfor the Australian Government	Budget(a) 2013-14 $’000	Actual Expenses 2013-14 $’000	Variation $’000
Programme 1.1: Australian Office of Financial Management
Departmental expenses
Departmental appropriation	10,807	10,055	752
Expenses not requiring appropriation in the Budget year	803	703	100
Administered expenses before re-measurements
Ordinary annual services (Appropriation Bill No.1)	10	–	10
Expenses not requiring appropriation	188,571	194,329	(5,758)
Special appropriations expenses
Commonwealth Inscribed Stock Act 1911	13,452,771	13,413,053	39,718
Loans Securities Act 1919	864	483	381
Financial Agreement Act 1994	20	278	(258)
Total for Programme 1.1	13,653,846	13,618,901	34,945

Table 3: Expenses and resources for Outcome 1 (continued)
	2013-14	2013-14
Average staffing level (number)	42	42

(a) The Budget figure for 2013‑14 is the estimated actual 2013‑14 expenses, reported in Table 2.1 of the Portfolio Budget Statements 2014‑15.

Grant programmes

Under the Financial Agreement Act 1994, the Commonwealth is required to contribute to the Debt Retirement Reserve Trust Account to assist the State and Northern Territory Governments to redeem maturing debt on allocation to them. Monies standing to the credit of this Account are held for the purposes prescribed by the Financial Agreement Act 1994.

The contributions made by the Commonwealth are accounted for as grants in the AOFM’s financial statements.

Advertising and market research

During 2013‑14, the AOFM made no payments to market research organisations, polling organisations or direct mail organisations.

The AOFM incurred expenditure of $5,991 in campaign advertising to promote Australian Government debt to investors. This was paid to Universal McCann (a division of Mediabrands Pty Ltd) for the placement of advertisements.

The AOFM incurred nil expenditure during 2013‑14 to media advertising organisations for staff recruitment.

Freedom of information

Agencies subject to the Freedom of Information Act 1982 (FOI Act) are required to publish information to the public as part of the Information Publication Scheme (IPS). This requirement is in Part II of the FOI Act and has replaced the former requirement to publish a section 8 statement in an annual report. Freedom of Information (FOI) matters in respect of the AOFM are handled by the Treasury and all documents disclosed in response to FOI requests (other than personal or business information that would be unreasonable to publish) are published on the FOI Disclosure Log of the Treasury website. The Treasury reports on AOFM’s FOI requests in an annual submission to the Office of the Australian Information Commissioner (OAIC) for inclusion in the OAIC’s annual report. In 2013‑14, the AOFM received one FOI request.

An agency plan showing what information is published in accordance with the IPS requirements, including material relevant to the AOFM, is accessible from the Treasury’s website at www.treasury.gov.au.

Ecologically sustainable development

The AOFM’s operations have an impact on the environment typical of office operations generally. Procurement and facilities management services are provided to the AOFM by the Treasury under a Service Level Agreement. Information on the environmental impact of these services is published in the Treasury’s Annual Report.

Structure of the AOFM’s portfolio

The assets and liabilities managed by the AOFM and held on its administered balance sheet in 2013‑14 were Commonwealth Government Securities (Treasury Bonds, Treasury Indexed Bonds, Treasury Notes and other securities), term deposits placed with the Reserve Bank of Australia, residential mortgage‑backed securities (RMBS) and housing advances to the States under the various Commonwealth‑State Housing Agreements.

For financial and risk management purposes, these assets and liabilities are allocated between four portfolios: the Long‑Term Debt Portfolio, the Cash Management Portfolio, the RMBS Portfolio and the Housing Advances Portfolio. This allocation recognises the different objectives, risks and management approaches required in each area.

The Long‑Term Debt Portfolio contains debt denominated in Australian dollars and in foreign currencies. It includes all Commonwealth Government Securities, other than Treasury Notes, which are issued for cash management purposes.

As no borrowings have been undertaken in foreign currencies since 1987, the Long‑Term Debt Portfolio holds only a small residual amount of foreign currency debt.

The Cash Management Portfolio is used to manage within‑year variability in the Australian Government’s financing requirement due to differences in the timing of Government payments and receipts. It contains all the assets and liabilities not held in the other three portfolios.

The RMBS Portfolio contains residential mortgage‑backed securities purchased by the AOFM.

The Housing Advances Portfolio comprises loans for public housing made by the Commonwealth to the States and Territories. These loans, which were not evidenced by the issue of securities, were made under previous Commonwealth‑State financing arrangements. The last of these loans is due to mature on 30 June 2042.

Residential mortgage-backed securities portfolio

The AOFM’s investments in residential mortgage‑backed securities up to 30 June 2014 are shown in Table 4.

Table 4: AOFM’s RMBS investments up to 30 June 2014
Pricing date	Settlement date	Issuer	Issue name	Tranche	Expected WAL* at closing (years)	Coupon (per cent)	Original face value ($m)
14-Oct-09	21-Oct-09	Liberty Financial	Liberty Prime Series 2009-2	Class A2	1.0	1M BBSW + 0.90%	35.00
14-Oct-09	21-Oct-09	Liberty Financial	Liberty Prime Series 2009-2	Class A3	3.3	1M BBSW + 1.40%	58.50
14-Oct-09	21-Oct-09	Liberty Financial	Liberty Prime Series 2009-2	Class AB	4.0	1M BBSW + 1.65%	6.30
21-Oct-09	28-Oct-09	RESIMAC	RESIMAC Premier Series 2009-2	Class A2	3.3	1M BBSW + 1.40%	38.10
21-Oct-09	28-Oct-09	RESIMAC	RESIMAC Premier Series 2009-2	Class AB	3.5	1M BBSW + 1.95%	18.30
10-Nov-09	24-Nov-09	FirstMac	FirstMac Mortgage Funding Trust Series 2-2009	Class A2	3.5	1M BBSW + 1.40%	195.40
10-Nov-09	24-Nov-09	FirstMac	FirstMac Mortgage Funding Trust Series 2-2009	Class AB	5.0	1M BBSW + 1.95%	19.74
22-Jan-10	29-Jan-10	AMP Bank	Progress 2010-1 Trust	Class AB	5.2	1M BBSW + 1.80%	36.00
09-Feb-10	17-Feb-10	Bank of Queensland	Series 2010-1 REDS Trust	Class A	3.1	1M BBSW + 1.30%	250.00
25-Feb-10	10-Mar-10	CUA	Series 2010-1 Harvey Trust	Class A1	2.9	1M BBSW + 1.35%	143.00
05-Mar-10	15-Mar-10	Members’ Equity Bank	SMHL Securitisation Fund 2010-1	Class A	2.6	1M BBSW + 1.35%	250.00
17-Mar-10	24-Mar-10	Bendigo and Adelaide Bank	TORRENS Series 2010-1 Trust	Class A	2.8	1M BBSW + 1.35%	123.00
26-Mar-10	31-Mar-10	IMB	Illawarra Series 2010-1 RMBS Trust	Class A	3.0	1M BBSW + 1.35%	157.50
12-May-10	17-May-10	RESIMAC	RESIMAC Premier Series 2010-1	Class A	2.4	1M BBSW + 1.65%	10.00
28-May-10	09-Jun-10	Suncorp Metway	APOLLO Series 2010-1 Trust	Class A2	6.0	1M BBSW + 1.10%	300.00
02-Jul-10	14-Jul-10	Members’ Equity Bank	SMHL Securitisation Fund 2010-2E	Class A3	5.7	1M BBSW + 1.10%	250.00
08-Jul-10	20-Jul-10	Bendigo and Adelaide Bank	TORRENS Series 2010-2 Trust	Class A3	3.0	1M BBSW + 1.10%	19.50
08-Jul-10	20-Jul-10	Bendigo and Adelaide Bank	TORRENS Series 2010-2 Trust	Class A4	5.8	1M BBSW + 1.10%	476.50
23-Jul-10	04-Aug-10	MyState Financial	ConQuest 2010-2 Trust	Class A2	1.5	1M BBSW + 1.40%	20.00
23-Jul-10	04-Aug-10	MyState Financial	ConQuest 2010-2 Trust	Class A3	5.0	1M BBSW + 1.30%	139.25
23-Jul-10	04-Aug-10	MyState Financial	ConQuest 2010-2 Trust	Class AB	3.7	1M BBSW + 1.85%	10.75
11-Aug-10	18-Aug-10	Liberty Financial	Liberty Prime Series 2010-1	Class A2	3.3	1M BBSW + 1.25%	90.00
11-Aug-10	18-Aug-10	Liberty Financial	Liberty Prime Series 2010-1	Class AB	4.0	1M BBSW + 1.65%	10.40
18-Aug-10	27-Aug-10	Bank of Queensland	Series 2010-2 REDS Trust	Class A2	6.2	1M BBSW + 1.10%	497.60
26-Aug-10	02-Sep-10	Macquarie Bank	PUMA Masterfund P-16	Class A3	6.3	1M BBSW + 1.15%	247.50
06-Sep-10	09-Sep-10	FirstMac	FirstMac Mortgage Funding Trust Series 1-2010	Class A3	4.7	1M BBSW + 1.30%	164.00
06-Sep-10	09-Sep-10	FirstMac	FirstMac Mortgage Funding Trust Series 1-2010	Class AB	3.6	1M BBSW + 2.20%	26.77
23-Sep-10	28-Sep-10	Members’ Equity Bank	SMHL Securitisation Fund 2010-3	Class A2	6.1	1M BBSW + 1.10%	290.00
14-Oct-10	20-Oct-10	ING Bank (Australia)	IDOL Trust Series 2010-1	Class A2	7.5	1M BBSW + 1.10%	250.00
10-Nov-10	18-Nov-10	Australian Central Credit Union	Light Trust No. 3	Class A3	5.4	1M BBSW + 1.20%	243.50
19-Nov-10	25-Nov-10	RESIMAC	RESIMAC Premier Series 2010-2	Class A2	4.8	1M BBSW + 1.25%	148.00
26-Nov-10	03-Dec-10	Police and Nurses Credit Society	Pinnacle Series Trust 2010-T1	Class A2	7.2	1M BBSW + 1.25%	96.50
26-Nov-10	03-Dec-10	Police and Nurses Credit Society	Pinnacle Series Trust 2010-T1	Class AB	6.7	1M BBSW + 2.00%	14.60
10-Dec-10	16-Dec-10	Bendigo and Adelaide Bank	TORRENS Series 2010-3 Trust	Class A5	4.6	1M BBSW + 1.10%	395.00
10-Dec-10	16-Dec-10	Bendigo and Adelaide Bank	TORRENS Series 2010-3 Trust	Class AB	4.7	1M BBSW + 1.80%	20.00
15-Dec-10	21-Dec-10	Wide Bay Australia	WB Trust 2010-1	Class A2	6.6	1M BBSW + 1.25%	81.20
15-Dec-10	21-Dec-10	Wide Bay Australia	WB Trust 2010-1	Class AB	6.2	1M BBSW + 2.00%	23.00
17-Mar-11	24-Mar-11	Members’ Equity Bank	SMHL Securitisation Fund 2011-1^	0.00
07-Apr-11	14-Apr-11	Community CPS	Barton Series 2011-1 Trust	Class A2	6.5	1M BBSW + 1.25%	90.90
08-Apr-11	13-Apr-11	Liberty Financial	Liberty Prime Series 2011-1	Class A2	4.0	1M BBSW + 1.30%	50.75
15-Apr-11	20-Apr-11	Macquarie Bank	PUMA Masterfund P-17	Class A2	5.6	1M BBSW + 1.15%	157.50
13-May-11	19-May-11	RESIMAC	RESIMAC Premier Series 2011-1	Class A	2.9	1M BBSW + 1.25%	170.00
13-May-11	19-May-11	RESIMAC	RESIMAC Premier Series 2011-1	Class AB	2.4	1M BBSW + 1.75%	22.00
20-May-11	27-May-11	AMP Bank	Progress 2011-1 Trust	Class A2	5.8	1M BBSW + 1.15%	138.00
10-Jun-11	17-Jun-11	ING Bank (Australia)	IDOL Trust Series 2011-1	Class A1	3.6	1M BBSW + 1.10%	206.00
11-Jul-11	14-Jul-11	Heritage Building Society	HBS Trust 2011-1	Class AB	5.5	1M BBSW + 1.95%	21.60
14-Jul-11	21-Jul-11	Bendigo and Adelaide Bank	TORRENS Series 2011-1(E) Trust	Class A3	6.6	1M BBSW + 1.20%	195.00
14-Jul-11	21-Jul-11	Bendigo and Adelaide Bank	TORRENS Series 2011-1(E) Trust	Class AB	5.6	1M BBSW + 1.75%	27.50
12-Oct-11	19-Oct-11	Members’ Equity Bank	SMHL Securitisation Fund 2011-2	Class A	3.0	1M BBSW + 1.25%	175.25
12-Oct-11	19-Oct-11	Members’ Equity Bank	SMHL Securitisation Fund 2011-2	Class AB	5.3	1M BBSW + 2.10%	25.25
28-Oct-11	04-Nov-11	Bendigo and Adelaide Bank	TORRENS Series 2011-2 Trust	Class A2	6.3	1M BBSW + 1.50%	163.75
28-Oct-11	04-Nov-11	Bendigo and Adelaide Bank	TORRENS Series 2011-2 Trust	Class AB	6.3	1M BBSW + 2.50%	26.25
11-Nov-11	18-Nov-11	ING Bank (Australia)	IDOL Trust Series 2011-2	Class A1	2.7	1M BBSW + 1.35%	146.50
11-Nov-11	18-Nov-11	ING Bank (Australia)	IDOL Trust Series 2011-2	Class A2	5.0	5.50%	50.00
23-Nov-11	08-Dec-11	Suncorp Metway	APOLLO Series 2011-1 Trust	Class A2	5.9	1M BBSW + 1.50%	250.00
23-Nov-11	08-Dec-11	Suncorp Metway	APOLLO Series 2011-1 Trust	Class AB	5.9	1M BBSW + 2.50%	63.00
20-Dec-11	22-Dec-11	FirstMac	FirstMac Mortgage Funding Trust Series 2-2011	Class A3	7.0	1M BBSW + 1.65%	87.70
20-Dec-11	22-Dec-11	FirstMac	FirstMac Mortgage Funding Trust Series 2-2011	Class AB	5.7	1M BBSW + 2.75%	11.70
29-Mar-12	12-Apr-12	ING Bank (Australia)	IDOL Trust Series 2012-1	Class A1	3.2	1M BBSW + 1.45%	200.00
13-Apr-12	23-Apr-12	Members’ Equity Bank	SMHL Securitisation Fund 2012-1	Class A3	2.8	1M BBSW + 1.50%	123.50
17-May-12	29-May-12	AMP Bank	Progress 2012-1 Trust	Class A	3.4	1M BBSW + 1.55%	195.65
17-May-12	29-May-12	AMP Bank	Progress 2012-1 Trust	Class AB	5.9	1M BBSW + 2.85%	30.78
01-Jun-12	14-Jun-12	RESIMAC	RESIMAC Premier Series 2012-1	Class A2	2.4	1M BBSW + 1.65%	137.00
02-Aug-12	09-Aug-12	FirstMac	FirstMac Mortgage Funding Trust Series 1-2012	Class A2	6.1	1M BBSW + 2.10%	129.10
02-Aug-12	09-Aug-12	FirstMac	FirstMac Mortgage Funding Trust Series 1-2012	Class AB	6.1	1M BBSW + 3.00%	13.40
24-Aug-12	30-Aug-12	AMP Bank	Progress 2012-2 Trust^				0.00
30-Aug-12	12-Sep-12	Suncorp Metway	APOLLO Series 2012-1 Trust	Class AB	5.9	1M BBSW + 3.00%	17.50
13-Sep-12	25-Sep-12	Members’ Equity Bank	SMHL Securitisation Fund 2012-2^				0.00
27-Sep-12	10-Oct-12	ING Bank (Australia)	IDOL Trust Series 2012-2^				0.00
02-Nov-12	15-Nov-12	People’s Choice	Light Trust No. 4^				0.00
12-Dec-12	18-Dec-12	FirstMac	FirstMac Mortgage Funding Trust Series 3-2012^				0.00
							15462.61

* Weighted average life.

^ The AOFM final allocation was zero.

Tender results for debt issuance

Table 5: Treasury Bond tender results — 2013-14
Tender date	Coupon and maturity	Face value amount allocated ($m)	Weighted average issue yield(%)	Spread to secondary market yield (basis points)	Range of bids accepted (basis points)	Times covered
03-Jul-13	4.75% 21-Apr-2027	700	4.1034	-0.03	0.50	3.06
05-Jul-13	4.75% 15-Jun-2016	700	2.8000	-1.21	0.00	5.73
10-Jul-13	3.25% 21-Apr-2029	700	4.3592	-0.08	1.50	1.54
12-Jul-13	5.50% 21-Jan-2018	700	3.0150	-1.50	0.00	3.34
17-Jul-13	2.75% 21-Apr-2024	700	3.8634	-0.50	1.00	3.59
19-Jul-13	4.75% 15-Jun-2016	700	2.6643	-1.00	0.50	4.84
26-Jul-13	5.50% 21-Apr-2023	700	3.7607	-0.18	0.50	3.30
31-Jul-13	4.75% 21-Apr-2027	700	4.0550	-0.95	0.00	3.15
02-Aug-13	4.25% 21-Jul-2017	700	2.8100	-1.02	0.00	5.20
07-Aug-13	3.25% 21-Apr-2025	1,000	3.9026	0.81	2.00	2.69
09-Aug-13	4.75% 21-Oct-2015	700	2.4218	-0.32	1.00	3.16
14-Aug-13	5.50% 21-Apr-2023	800	3.8382	-0.18	1.00	3.21
16-Aug-13	6.00% 15-Feb-2017	800	2.8700	-0.50	0.00	3.40
21-Aug-13	3.25% 21-Apr-2025	800	4.1682	0.20	1.50	2.27
23-Aug-13	5.50% 21-Jan-2018	800	3.1984	-0.34	0.50	3.74
28-Aug-13	2.75% 21-Apr-2024	800	3.9792	0.92	2.00	1.71
30-Aug-13	4.25% 21-Jul-2017	800	2.9680	-0.24	0.50	3.94
04-Sep-13	4.75% 21-Oct-2015	800	2.7138	-0.36	1.50	3.89
06-Sep-13	5.75% 15-May-2021	800	3.9592	0.22	1.00	2.50
11-Sep-13	5.50% 21-Apr-2023	800	4.1828	0.78	1.50	1.94
13-Sep-13	4.75% 15-Jun-2016	800	2.9085	0.15	0.50	4.39
18-Sep-13	4.75% 21-Oct-2015	800	2.7867	0.16	1.00	3.39
20-Sep-13	5.50% 21-Jan-2018	800	3.1923	0.19	1.50	4.15
25-Sep-13	4.75% 15-Jun-2016	800	2.7614	0.64	1.50	4.02
27-Sep-13	3.25% 21-Apr-2025	800	4.0866	0.22	1.50	2.46
02-Oct-13	5.50% 21-Apr-2023	800	3.9018	0.18	2.00	2.52
04-Oct-13	4.25% 21-Jul-2017	800	3.0694	-0.31	0.50	4.14
09-Oct-13	2.75% 21-Apr-2024	800	4.0683	0.07	1.00	4.36
11-Oct-13	4.75% 15-Jun-2016	800	2.9456	-0.69	1.00	4.28
16-Oct-13	4.50% 15-Apr-2020	800	3.7951	-0.22	1.00	3.01
18-Oct-13	5.75% 15-Jul-2022	800	3.9728	-0.47	0.50	3.59
25-Oct-13	2.75% 21-Apr-2024	800	4.0137	0.37	1.00	2.88
30-Oct-13	3.25% 21-Apr-2025	800	4.0754	0.29	1.50	2.59
01-Nov-13	5.75% 15-May-2021	800	3.8000	-1.49	1.00	4.27
06-Nov-13	3.25% 21-Apr-2029	600	4.6000	-0.36	0.00	4.53
08-Nov-13	4.25% 21-Jul-2017	1,000	3.1431	-3.94	2.50	3.58
13-Nov-13	5.50% 21-Apr-2023	800	4.1965	0.31	1.00	4.73
15-Nov-13	6.00% 15-Feb-2017	800	3.0545	-0.05	1.50	3.89
22-Nov-13	4.75% 15-Jun-2016	800	2.9681	-0.19	0.50	5.40
27-Nov-13	4.50% 15-Apr-2020	800	3.7061	-0.24	1.00	4.29
29-Nov-13	5.25% 15-Mar-2019	800	3.5060	-0.40	0.50	4.15
04-Dec-13	5.75% 15-Jul-2022	800	4.1615	-0.10	1.00	2.25
06-Dec-13	3.25% 21-Oct-2018	1,500	3.5738	N/A	3.00	3.13
11-Dec-13	3.25% 21-Apr-2025	800	4.4572	0.07	1.00	2.47
13-Dec-13	6.00% 15-Feb-2017	700	3.0148	-0.27	0.50	4.79
15-Jan-14	5.75% 15-May-2021	800	3.8919	-0.37	1.00	3.86
17-Jan-14	3.25% 21-Oct-2018	1,500	3.3257	-0.04	1.50	1.98
24-Jan-14	4.75% 21-Apr-2027	800	4.3331	0.19	1.50	2.12
29-Jan-14	2.75% 21-Apr-2024	800	4.0912	0.24	1.00	2.60
31-Jan-14	5.25% 15-Mar-2019	800	3.3288	-0.19	1.00	3.66
05-Feb-14	3.25% 21-Apr-2025	800	4.1550	-0.26	0.00	5.06
07-Feb-14	6.00% 15-Feb-2017	800	2.9785	-0.40	0.50	4.79
12-Feb-14	2.75% 21-Apr-2024	800	4.2041	-0.34	0.50	4.41
14-Feb-14	5.50% 21-Jan-2018	800	3.2157	-0.68	1.00	4.56
19-Feb-14	3.25% 21-Apr-2025	800	4.2344	-0.31	0.50	4.63
21-Feb-14	5.25% 15-Mar-2019	800	3.4661	-0.64	1.00	3.94
26-Feb-14	5.75% 15-May-2021	800	3.7850	-0.76	0.50	4.80
28-Feb-14	4.25% 21-Jul-2017	800	2.9647	-0.58	1.00	5.16
05-Mar-14	5.50% 21-Apr-2023	800	3.9609	-0.66	0.50	4.55
07-Mar-14	3.25% 21-Oct-2018	800	3.3869	-0.99	1.00	4.58
14-Mar-14	6.00% 15-Feb-2017	800	2.8861	-0.77	1.00	4.82
19-Mar-14	2.75% 21-Apr-2024	700	4.0891	-0.64	1.00	3.88
21-Mar-14	3.25% 21-Oct-2018	700	3.3988	-1.25	0.50	5.20
26-Mar-14	3.25% 21-Apr-2025	700	4.2036	-0.39	0.50	2.73
28-Mar-14	4.25% 21-Jul-2017	700	3.1050	-0.45	0.00	4.19
02-Apr-14	4.50% 21-Apr-2033	700	4.7100	-0.92	0.00	4.85
04-Apr-14	4.75% 15-Jun-2016	700	2.8621	-1.04	0.50	5.79
09-Apr-14	4.75% 21-Apr-2027	700	4.2885	-0.15	1.00	3.49
11-Apr-14	5.75% 15-May-2021	700	3.6982	-0.52	0.50	4.08
16-Apr-14	3.25% 21-Oct-2018	1,000	3.2885	-0.40	0.50	3.12
30-Apr-14	3.25% 21-Apr-2025	700	4.0311	-0.07	1.00	4.87
02-May-14	5.25% 15-Mar-2019	700	3.2795	-0.85	0.50	5.08
07-May-14	4.25% 21-Apr-2026	700	4.0050	-0.31	1.00	4.88
09-May-14	4.50% 15-Apr-2020	700	3.3622	-0.38	0.50	3.95
14-May-14	2.75% 21-Apr-2024	700	3.8081	-0.43	0.50	4.12
16-May-14	3.25% 21-Oct-2018	700	3.1196	-0.54	1.00	4.62
21-May-14	4.25% 21-Apr-2026	700	3.8257	-0.18	0.50	2.87
23-May-14	4.25% 21-Jul-2017	700	2.8800	-0.67	0.00	4.54
28-May-14	4.75% 21-Apr-2027	700	3.9479	-0.11	1.00	3.02
30-May-14	3.25% 21-Oct-2018	700	3.0600	-0.74	0.50	5.93
04-Jun-14	4.50% 21-Apr-2033	700	4.3157	-0.97	2.00	3.53
06-Jun-14	3.25% 21-Apr-2025	700	3.8594	-0.56	0.50	4.28
11-Jun-14	3.25% 21-Apr-2029	700	4.2055	-0.47	1.00	2.61
13-Jun-14	3.25% 21-Oct-2018	700	3.1114	-0.51	0.50	4.26
18-Jun-14	2.75% 21-Apr-2024	700	3.7393	-0.40	0.50	3.17
20-Jun-14	5.25% 15-Mar-2019	700	3.0436	-0.79	0.50	4.35
Average over year to June 2014				-0.37	0.86	3.82
Average over 3 years to June 2014				-0.24	0.99	3.62
Average over 10 years to June 2014				-0.06	1.07	3.71

Table 6: Treasury Indexed Bond tender results — 2013-14
Tender date	Coupon and maturity	Face value amount allocated ($m)	Weighted average issue yield (%)	Spread to secondary market yield (basis points)	Times covered
16-Jul-13	1.25% 21-Feb-2022	200	1.2550	-3.00	8.98
20-Aug-13	2.50% 20-Sep-2030	200	1.9539	-1.11	3.08
10-Sep-13	1.25% 21-Feb-2022	200	1.5989	-2.11	3.72
29-Oct-13	1.25% 21-Feb-2022	200	1.3483	-0.67	3.38
12-Nov-13	2.50% 20-Sep-2030	150	2.0900	-1.50	3.51
26-Nov-13	1.25% 21-Feb-2022	200	1.6139	-2.61	5.22
10-Dec-13	2.50% 20-Sep-2030	100	2.0690	-1.10	4.92
11-Feb-14	2.00% 21-Aug-2035	200	2.1635	-1.65	3.74
25-Feb-14	1.25% 21-Feb-2022	200	1.4460	-2.40	5.36
11-Mar-14	4.00% 20-Aug-2020	200	1.2667	-2.33	4.51
25-Mar-14	1.25% 21-Feb-2022	200	1.4017	-1.83	3.45
08-Apr-14	2.00% 21-Aug-2035	100	2.0712	-2.38	3.69
29-Apr-14	1.00% 21-Nov-2018	500	0.9530	N/A	3.96
20-May-14	1.25% 21-Feb-2022	200	1.0660	-1.90	4.36
10-Jun-14	1.00% 21-Nov-2018	200	0.7363	-3.37	5.34
24-Jun-14	2.00% 21-Aug-2035	100	1.6138	-2.62	5.77
Average over year to June 2014				-2.04	4.56
Average over 3 years to June 2014				-0.38	3.92

Table 7: Treasury Note tender results — 2013-14
Tender date	Maturity	Face value amount allocated ($m)	Weighted average issue yield (%)	Range of bids accepted (basis points)	Times covered	Spread to OIS (basis points)	Spread to BBSW (basis points)
18-Jul-13	25-Oct-13	1,000	2.4824	6.0	6.27	-11.35	-25.69
25-Jul-13	25-Oct-13	1,000	2.3805	3.0	5.30	-17.33	-35.42
25-Jul-13	08-Nov-13	1,000	2.3969	3.0	4.41	-13.79	-32.97
1-Aug-13	25-Oct-13	500	2.3413	4.0	4.51	-13.39	-28.75
8-Aug-13	08-Nov-13	500	2.3460	4.0	3.66	-9.67	-25.44
15-Aug-13	25-Oct-13	500	2.3539	6.0	4.71	-11.06	-26.75
22-Aug-13	08-Nov-13	1,000	2.3483	5.0	4.74	-11.72	-24.87
26-Sep-13	24-Jan-14	500	2.3539	10.0	5.41	-7.71	-22.67
26-Sep-13	21-Feb-14	500	2.3506	8.0	6.21	-6.33	-23.22
3-Oct-13	24-Jan-14	500	2.3856	4.0	3.88	-6.82	-18.82
10-Oct-13	24-Jan-14	500	2.4086	7.0	3.88	-4.76	-17.83
17-Oct-13	21-Feb-14	1,000	2.4602	4.0	2.94	0.02	-13.64
24-Oct-13	24-Jan-14	1,000	2.4484	7.0	3.13	-3.16	-15.02
24-Oct-13	21-Feb-14	500	2.4599	6.0	4.62	-2.01	-14.87
31-Oct-13	24-Jan-14	1,000	2.4688	2.0	2.99	-1.12	-12.47
7-Nov-13	24-Jan-14	1,000	2.4755	6.0	2.90	-1.45	-10.47
7-Nov-13	07-Mar-14	500	2.4831	5.0	3.56	-0.69	-11.42
14-Nov-13	24-Jan-14	500	2.4799	4.0	2.28	-1.01	-10.24
14-Nov-13	07-Mar-14	500	2.4765	3.0	2.93	-0.71	-11.46
21-Nov-13	24-Jan-14	500	2.5110	3.0	2.50	2.10	-7.34
21-Nov-13	07-Mar-14	500	2.4996	3.0	2.93	1.35	-8.52
8-May-14	08-Aug-14	500	2.4814	5.0	5.03	-1.86	-20.16
8-May-14	24-Oct-14	500	2.4709	19.0	4.09	-2.91	-23.80
15-May-14	08-Aug-14	500	2.5104	4.0	2.92	1.04	-17.19
15-May-14	24-Oct-14	500	2.5107	4.0	2.61	1.07	-19.64
22-May-14	08-Aug-14	500	2.5302	4.0	3.05	3.02	-15.14
22-May-14	24-Oct-14	500	2.5367	4.0	2.85	3.67	-16.86
29-May-14	08-Aug-14	500	2.5588	2.0	2.46	6.88	-12.21
29-May-14	24-Oct-14	500	2.5622	2.0	2.34	7.22	-14.08
12-Jun-14	08-Aug-14	500	2.4706	12.0	5.69	-2.94	-19.77
26-Jun-14	24-Oct-14	500	2.4979	7.0	4.68	0.68	-22.60
Average over year to June 2014				5.35	3.85	-3.38	-18.69
Average over 3 years to June 2014				7.17	4.72	0.47	-22.13

Last updated: 31 October 2014