On March 16 the Australian Office of Financial Management (AOFM) announced it had sold A$50 million of residential mortgage-backed securities (RMBS) during March, at 132 basis points over the semi-monthly swap rate. This is the first time during 2012 that a public pricing point has been provided for RMBS as no domestic deals have been priced. It also enables a meaningful comparison to be made between RMBS and covered bond pricing in the domestic Australian market.