The Australian Office of Financial Management’s Structured Finance Support Fund has effectively completed its task, with no requests for support for public or private market transactions during the March quarter.

The government set up the SFSF program a year ago, providing the AOFM with A$15 billion to invest in structured finance markets used by smaller lenders, including small ADIs and non-ADIs.

By the end of March total public market investments made by the SFSF since launch amounted to $1.36 billion.

Commitments to private markets (warehouse facilities) amounted to $2.3 billion, providing support to 45 warehouses sponsored by 34 lenders.

The Forbearance Special Purpose Vehicle, which was set up within the SFSF to support lenders impacted by loan repayment deferral arrangements in their securitisation vehicles, was wound up at the end of March.

Total draws on the fSPV amounted to $47 million – well inside the limit of $101 million. Repayments of support drawn under the fSPV began this month.