Briefs: Flexigroup prices ABS notes, ANZ picks CMC for white-label and RBNZ dashboard
FlexiGroup has priced a new series of asset-backed floating-rate notes, backed by consumer finance loans, originated and serviced by Certegy Ezi-Pay, whose ultimate parent is FlexiGroup. At the 6 February 2017 cut-off date, the total collateral pool was over 128,000 individual consumer loan contracts. Commonwealth Bank of Australia arranged the deal, which priced more tightly than expected when launched yesterday: the A1 notes priced at 70 basis points over the one-month bank bill swap. The B-notes priced at 195 bps over BBSW. Pricing on the other four tranches was not disclosed. ANZ is on the verge of selecting CMC Markets to supply the back enmd for its ANZ Share Investing platform (formerly E*Trade), under a white label arrangement, the Financial Review reports in its Street Talk column. CMC beat Bell Financial Group dropping out of the race for the broker formerly known as E*Trade. The deposit book linked to the business is also staying with ANZ. The Reserve Bank of New Zealand said its proposed 'Dashboard' approach to quarterly disclosure for locally incorporated banks remained its preferred option. Deputy Governor Grant Spencer said 18 submissions from banks and others were "supportive of the Reserve Bank's objective to improve the effectiveness of public disclosures by banks, but some raised issues about publication timing, control of the data published, data comparability and the proposed inclusion of short term liquidity metrics."