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Bloomberg launches RMBS analysis tool

Bloomberg has partnered with Perpetual to offer investors a 'deep-dive' analysis of Australian residential mortgage-backed securities (RMBS).

Speaking to MortgageBusiness’ sister title InvestorDaily, Bloomberg head of structured products Russel Parentela said all users of the Bloomberg Professional Service can currently view the underlying assets of Australian RMBSs on their terminals.

In order to deliver the service, Bloomberg has teamed up with Perpetual, which has been the trustee for the bulk of the RMBS deals in Australia, said Mr Parentela.

Via Perpetual, Bloomberg has access to the information for 175 of the 210 RMBS deals completed in Australia – with more in the pipeline awaiting consent, he added.

The Bloomberg initiative is in line with the increased transparency requirements of the Reserve Bank of Australia – due to be implemented in January 2015 – for issuers who want their securities to be eligible for an RBA liquidity facility, said Mr Parentela.

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Bloomberg has restructured or “reverse engineered” the deals it has been granted access to in line with a consistent “waterfall model”, he said, as required by the RBA.

“We've modelled all of the deals for which we’ve been granted permission. It currently stands at about 175 deals up there right now, and there’s additional deals where we’re waiting for consent,” said Mr Parentela.

“The bulk of the investor community will use it as a transaction tool. They will pull up a deal that’s already modelled and they will be able to see every single feature.”

Sales of Australian RMBS securities almost doubled in 2013 to $26.1 billion, the most rapid rise since the global financial crisis in 2007, according to a Bloomberg spokesperson.

Bloomberg launches RMBS analysis tool

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>Speaking to MortgageBusiness’ sister title InvestorDaily, Bloomberg head of structured products Russel Parentela said all users of the Bloomberg Professional Service can currently view the underlying assets of Australian RMBSs on their terminals.

In order to deliver the service, Bloomberg has teamed up with Perpetual, which has been the trustee for the bulk of the RMBS deals in Australia, said Mr Parentela.

Via Perpetual, Bloomberg has access to the information for 175 of the 210 RMBS deals completed in Australia – with more in the pipeline awaiting consent, he added.

The Bloomberg initiative is in line with the increased transparency requirements of the Reserve Bank of Australia – due to be implemented in January 2015 – for issuers who want their securities to be eligible for an RBA liquidity facility, said Mr Parentela.

Bloomberg has restructured or “reverse engineered” the deals it has been granted access to in line with a consistent “waterfall model”, he said, as required by the RBA.

“We've modelled all of the deals for which we’ve been granted permission. It currently stands at about 175 deals up there right now, and there’s additional deals where we’re waiting for consent,” said Mr Parentela.

“The bulk of the investor community will use it as a transaction tool. They will pull up a deal that’s already modelled and they will be able to see every single feature.”

Sales of Australian RMBS securities almost doubled in 2013 to $26.1 billion, the most rapid rise since the global financial crisis in 2007, according to a Bloomberg spokesperson.

Bloomberg launches RMBS analysis tool
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