CBA strikes its first RMBS of 2011

Commonwealth Bank is marketing a $1 billion securitisation of seasoned loans in yet another example of a big bank once more embracing the financing technique.

There is talk of the deal being devised to meet the requirements of a cornerstone offshore investor, though it may be upsized to cater to domestic investor demand.

The average seasoning is a little more than two years, and the average loan-to-valuation ratio is less than 60 per cent. There are no loans in arrears.

CBA last sold mortgage-backed securities in November 2010.