The Australian securitisation market 10 years on from the financial crisis


The Australian securitisation market has rebuilt itself from the impact of the financial crisis that commenced in late 2007 and continued until 2009. The volume of mortgage and asset-backed securities denominated in Australian dollars has largely come back to the levels that prevailed in precrisis 2006 and 2007. However, issuance in non-Australian dollars is only a shadow of pre-crisis volumes largely due to the increased cost and regulatory changes that make the use of cross currency swaps uneconomic for issuers.

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This paper was presented in July 2017 at the 22nd Melbourne Money and Finance Conference (MMFC), which explored the theme: Evolutionary Trends in the Australian Financial Sector.