Briefs: Prime RMBS delinquencies, Bendigo's A$500m RMBS, e-skimmers profitable 11 June 2015 4:20PM Banking Day staff Briefs, Moody's Investors Service said its 30-day plus delinquency rate for Australian prime residential mortgage-backed securities increased to 1.4 per cent in March 2015, compared to 1.2 per cent in December 2014. However, at 1.4 per cent, this matches the monthly average for 2014, Moody's said. For major banks, the 30-day plus delinquency rate was 1.3 per cent in March 2015, while for regional banks the ratio was at 2.2 per cent, and 3.1 per cent for non-ADIs. For low-doc loans, the arrears rate decreased slightly to 4.7 per cent in March 2015, up from 4.8 per cent in December 2014. It remains slightly above the 4.6 per cent recorded in March 2014. Bendigo and Adelaide Bank successfully priced its TORRENS Series 2015-1 RMBS transaction yesterday. The A$460 million Class A1 tranche of notes, which received a preliminary rating of AAA(sf) from Standard & Poor's and Aaa(sf) from Moody's Investor Services, priced at 92 basis points over BBSW. The $11.75 million Class A2 tranche of notes, which priced at 99 bps over BBSW, received a preliminary rating of AAA(sf) from Standard & Poor's. The $17.5 million class B notes were priced at 230 bps over BBSW. The Class C, D and E notes raised $6.75 million, $1.75 million and $2.25 million respectively, and were priced at 285 bps, 400 bps and 625 bps, respectively. An Australian company that supplies systems to prevent wireless skimming has revealed Aussies could be losing as much as A$439 million a year to what it called "electronic pickpockets". The company, Amourcard, commissioned a study into the extent of the criminal activity that revealed one in seven Australians (14 per cent) have either been affected themselves or know someone that has been a victim of electronic skimming - a type of credit card fraud, where criminals extract card details using RFID or NFC technologies. The report also found a fifth of Aussies (20 per cent) are completely unaware this crime exists. At a business lunch yesterday, ANZ chief executive Mike Smith called for Australia's negative gearing rules to be overhauled. Smith said the government should review negative gearing (which allows property investors to claim interest on loan repayments against their income) as part of a broader review of a tax system which he said "encourages borrowing and discourages saving", adding "that doesn't, somehow, feel right." Smith's comments follow calls from economists across the board, from the Greens to America Merill Lynch Australia chief economist Saul Eslake, to abolish negative gearing.