Briefs: RMBS investors back non-conforming deal, Kiwi banks Living Wage certified 28 July 2020 6:10AM Banking Day staff Securitisation: RMBS, Work & career, Debt capital markets Resimac’s latest RMBS transaction, Resimac Bastille Trust Series 2020-1NC, shows that there is support in the market for non-conforming deals, as well issues backed by prime loans. Resimac is paying 95 basis points over the one-month bank bill swap rate on A$250 million A1 notes, which have a weighted average life of 0.57 years. Pricing on the $500 million of A2 notes (WAL 2.9 years) is 165 basis points over BBSW and pricing of the $110 million of AB notes (WAL 2.9 years) is 190 bps. New Zealand’s banking industry has become the country’s first fully living wage accredited industry. As of yesterday, all 17 members of the New Zealand Bankers’ Association have been fully accredited, and are paying all their staff plus contractors at least the living wage of NZ $21.15 per hour. It will increase to NZ$22.10 per hour on 1 September 2020.