Margins for securitisation deals are coming in, if the latest ME Bank deal is any guide.ME Bank will pay 135 basis points over the one-month bank bill swap rate for the A$664 million A1 tranche of it SMHL Securitisation Fund 2012-2, which has a weighted average life of 2.4 years.That margin is 20 points better than the pricing of most deals in the middle of the year. The bank will pay a fixed rate of 4.88 per cent on the $80 million A2 tranche, which has a weighted average life of 4.95 years.When ME Bank last issued in the RMBS market, in April, it paid 5.27 per cent on a $50 million soft bullet tranche.The $41.6 million AB tranche, which has a weighted average life of 5.2 years, was priced at 300 basis points over the swap rate.Pricing on the B1 and B2 tranches was not disclosed.ME Bank upsized the deal from $500 million to $800 million. There were 19 investors, including several offshore. The deal's arranger, Macquarie Bank, said, in a statement, that 55 per cent of the issue went to real money investors.The Australian Office of Financial Management had offered to buy notes, but its support was not needed.