AOFM backs Judo first
Judo Bank will receive A$500 million in funding from the AOFM, drawing on two different funds established to support business lending.This is equal to 43 per cent of Judo's business receivables as of February.The AOFM said it intends to invest the first tranche of $250 million in securities issued by a warehouse vehicle sponsored by Judo through the Australian Business Securitisation Fund, a pre-crisis initiative.The AOFM said it would also invest a further $250 million in a different security class issued by the same warehouse facility "on a temporary basis". This second tranche will be allocated from the Structured Finance Support Fund, one of the measures rushed through parliament last week.