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Suncorp and Greater secure AOFM support
15 July 2009 4:51PM
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.
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