Suncorp and Greater secure AOFM support
Suncorp Metway and Greater Building Society will be the next two recipients of investment by the Australian Office of Financial Management in pools of mortgage-backed securities the AOFM said yesterday.The AOFM noted that these are likely to be the last two deposit-taking entities that qualify for investment under the $4 billion program for ADIs announced by the Australian government late last year.Following the recent support by the AOFM in mortgage pools of Wide Bay Australia (for $300 million) and Australian Central Credit Union ($190 million) the AOFM has invested $3.24 billion in ADI mortgages to date.The AOFM said it has invested $3.45 billion in mortgage securities of non-bank issuers, so the next round of investment to support non-bank lending is likely to be the last for that sector as well.