RMBS benchmark rate up 10 bps on last year 23 February 2015 4:56PM John Kavanagh Issuers in the residential mortgage-backed securities market can expect to pay margins of at least ten basis points more than they did last year, following the completion of the latest Commonwealth Bank Medallion Trust issue on Friday.CBA set the benchmark for RMBS funding last year when it paid a margin of 70 bps on the A1 notes of a Medallion issue in August. On Friday the margin on the A1 notes of Medallion Trust Series 2015-1 was 80 bps.The bank raised A$2 billion of funding.Pricing on the $1.8 billion of A1 notes, which have a weighted average life of 2.8 years, was 80 bps over the one-month bank bill swap rate.Pricing on the $120 million of B notes and the $40 million of C notes was not disclosed.CBA was the arranger, book runner and lead manager. Macquarie Bank was co-manager.Earlier in the month, Macquarie Group priced PUMA Series 2005-1 Trust, paying 11 basis points more for funding than it did when it issued last July.