Briefs: KIPPERS rule, Macquarie launches ABS

Banking Day staff
  • More than eight in ten parents are providing financial support to their adult children, according to finder.com.au research. Among those providing support, 29 per cent said their children struggled to mange their money. More than half of the adult offspring (57 per cent) have received support on a one-off basis but 19 per cent receive handouts several times a year, seven per cent monthly and seven per cent weekly.
  • Macquarie Group has launched an issue of asset-backed securities, seeking A$500 million of funding. Smart ABS Series 2015-2 is backed by automotive and equipment loans and leases originated by Macquarie Leasing. The average size of the receivables is $30,595.