Finalisation of New Eligibility Criteria for Residential Mortgage Backed Securities
Media Release Number 2013-08: In October 2012, the Reserve Bank announced that it would be introducing new criteria for eligibility of residential mortgage backed securities (RMBS) in its operations. This reflects the Bank’s desire to receive more comprehensive and standardised information on the RMBS that are eligible under repurchase agreements (repo), and to promote broader transparency in the securitisation market. At that time, the Bank released, for comment, the reporting templates that issuers of RMBS will need to complete and make publicly available for their securities to be eligible for repo with the Bank (for details see Media Release 2012-31). The consultation period closed on 28 December 2012.