News
Investor appetite for green, social and sustainability bonds continues to outstrip supply, with two recent semi-government deals attracting renewed engagement from a diverse range of domestic and global investors. The bonds – from Queensland Treasury Corporation and Treasury Corporation of Victoria – significantly stepped up flow from these issuers.
The introduction of uncleared-margin rules for OTC derivatives in Australia is leading market participants to consider central-clearing solutions. As the regulations capture a growing number of users, ASX says the need to move away from bilateral trading and manage compliance obligations is growing.
Resimac’s Bastille Trust Series 2021-2NC is only the second Australian-origin securitisation transaction this year to include foreign-currency tranches. Execution certainty at attractive pricing levels drove the decision as the domestic market prepares itself for supply-side changes.
Kiwibank is the first New Zealand issuer to price an additional tier-one deal under the Reserve Bank of New Zealand’s new bank-capital definitions. The transaction was popular with retail buyers – nearly three times oversubscribed – as the domestic market continues to rally.
The Reserve Bank of New Zealand aims to introduce a climate change scenario-based industry stress test by 2023 as part of its focus on the risk climate change poses to financial stability. It also says it is paying close attention to global moves to incentivise lending to environmental transition through the banking sector regulatory regime.