Over the past week the Australian Office of Financial Management has used the Structured Finance Support Fund to make 35 investments in securitised assets, including 12 yesterday.

The SFSF investments in primary and secondary public securitisation markets have a total original face value of A$172.5 million.

Issuers include Liberty Financial, Pepper, Resimac, RedZed, Think Tank and Firstmac.

The AOFM said that to date all secondary market activity has been undertaken as an adjunct to primary market activity; that is, where it has facilitated investors switching into new transactions by seeking an SFSF bid for the old securities.

Under the SFSF program, the government is providing the AOFM with $15 billion to invest in structured finance markets used by smaller lenders, including small ADIs and non-ADIs.

Eligible lenders are non-ADIs of any size and ADIs that do not have the capacity to provide the collateral that is acceptable to the Reserve Bank under the term funding facility.