On 2 March, expected ratings were assigned by S&P Global Ratings and Moody's Investors Service to AMP Bank's potential residential mortgage-backed securities (RMBS) deal, Progress 2020-1 Trust. The deal has indicative total volume of A$750 million (US$489.2 million). Commonwealth Bank of Australia, Deutsche Bank, Macquarie Bank, MUFG Securities, National Australia Bank and Standard Chartered were mandated for the deal on 20 February.
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