Weekly update on the Australian economy prepared by Westpac's Economic Research unit.
In September 1996, Westpac became the first major Australian bank to securitise its own home loan assets. It now has an established securitisation programme, Westpac Securitisation Trust ("WST"), with the capability to issue into the Australian, Euro and US markets. To date Westpac has securitised over A$6.6 billion Australian residential mortgages plus NZ$1.1 billion residential mortgages originated in New Zealand.
The management and execution of the WST securitisation strategy is the responsibility of Group Treasury. Within Group Treasury, the Group Securitisation unit manages the WST offshore and domestic issuance programmes.
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