According to NAB's latest analysis of the Australian securitisation market, year-to-date domestic collateral-backed RMBS issuance is stands at A$21.9 billion, slightly ahead of where the market was at the end of September last year. The next deal in what is becoming a busy pipeline of new residential mortgage backed securities is likely to come from Firstmac, set to hit the road next week, with meetings in the UK and US before meeting domestic investors the week after. An RMBS deal may follow, "subject to market conditions". Bank of Queensland has completed its latest issue of asset-backed securities, raising A$750 million of funds. Series 2015-1 REDS EHP Trust, which is backed by a pool of vehicle loans and leases, was upsized from $500 million offered at the launch earlier this week. BOQ will pay a margin of 92 basis points over the one-month bank bill swap rate on the A notes (worth $592.5 million) and 170 bps on the B notes ($43.5 million). The subordinated tranches were retained by BOQ.