Australia's big four banks are set to issue substantial amounts of covered bonds over the coming months, say industry experts. The banks plan to use the securities to improve their liquidity risk positions ahead of the introduction of Basel III's liquidity provisions in that country.
The Australian government amended the Banking Act 1959 in October to allow authorised deposit-taking institutions (ADIs) to issue covered bonds. ANZ has become the first Australian bank to tap the covered bond marke
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