Notices Archive

2021

November 2021

RBA Market Advice – Changes to Eligible Securities Operational Notes and Asset-backed Securities Maintenance

The Reserve Bank has updated the operational notes for domestic market operations pertaining to eligible securities, and amended the criteria for asset-backed securities (ABS) with revolving asset pools.

September 2021

2020

April 2020

RBA Market Advice – Changes to Margin Arrangements for ABS Interest Rate Swap Providers

The RBA has amended the margin arrangements for asset-backed securities (ABS) where RBA counterparties are ‘related’ to securities provided as collateral. The amendment is to the additional discount (i.e. haircut) applied to ABS when the counterparty provides an interest rate swap to the ABS trust.

RBA Market Advice – Reporting loans with COVID-19 repayment deferrals

Some securitised loans may have been granted repayment deferrals relating to the COVID-19 pandemic. For reporting loan-level data to the Securitisation System, issuers should follow the Australian Prudential Regulation Authority's (APRA's) approach to COVID-19 support. That is, issuers need not treat repayment holidays or deferrals as arrears or restructuring in this case.

March 2020

RBA Market Advice - Amendment to the margin band for ‘other’ asset-backed securities

The RBA has amended the margin band that applies to new repo-eligible other asset-backed securities (ABS). The margin band is now 15 – 40 per cent (previously 15 – 20 per cent) for all residual maturities. The margin on existing eligible securities are not affected by this change. There is no change to the repo eligibility criteria for ABS.

2019

December 2019

RBA Market Advice – Amendment to Ending Balance reporting requirement

The RBA has amended the Ending Balance reporting guidance for RMBS, CMBS and OABS effective immediately, in light of feedback from information providers. The resubmission deadline for updating the Ending Balance where the forecast falls outside of the acceptable range has been extended from the Report Date to within five business days of the Report Date.

November 2019

Upcoming changes to TLS support for Securitisation application

The RBA will be disabling support of TLS 1.0 and TLS 1.1 for both the Securitisation Web API and Web Portal Connections.

RBA Market Advice – Upcoming changes to the RMBS, CMBS and OABS Reporting Guidance

Effective 2 December 2019, the RBA will amend the RMBS, CMBS and OABS reporting guidance to ensure trusts' account balances and reserves are reported on the correct date.

2018

October 2018

Notification of Validation Rules update

Updates to the validation rules will be applied to the Securitisation System effective Tuesday, 2 October 2018.

Securitisation System Active Rules [XLSX]

August 2018

Notification of Validation Rules update

Updates to the validation rules will be applied to the Securitisation System effective Wednesday, 1 August 2018.

The RBA has nominated a ‘Rule Severity Set to Fail’ date of 1 November 2018 for the rules relating to the use of the ‘ND5’ code at the loan level. A tolerance of 50 will apply to each of these rules, meaning that a submission will pass a given rule if the ‘ND5’ code is used in circumstances not allowed for by the rule for up to 50 loans.

Information regarding the activation of validation rules can be viewed from the Securitisation System Active Rules [XLSX] document located in the Validation Rules section of the Securitisation Industry Forum.

Any queries or feedback on the above should be directed to the Securitisation Support Centre at ssc@rba.gov.au or 1800 919 211.

June 2018

Notification of Validation Rules update

The RBA has deferred the ‘Rule Severity Set to Fail’ date of the rules relating to ND1 use that were announced in February 2018. These rules will remain at a ‘warning’ severity for the time being.

Information regarding the activation of validation rules can be viewed from the Securitisation System Active Rules [XLSX] document located in the Validation Rules section of the Securitisation Industry Forum.

For further information please contact the Securitisation Support Centre at ssc@rba.gov.au or 1800 919 211.

April 2018

Changes to the Securitisation System Reporting Guidance

The RBA has updated the RMBS reporting guidance to align the definition of two loan-level fields with those that will be implemented in the modernised Economic and Financial Statistics (EFS) collection. A number of other minor changes have also been made to the RMBS, CMBS and OABS reporting guidance documents.

March 2018

RBA Market Advice - Removal of the 7 day reporting allowance

Effective today, the RBA is aligning the deadline for reporting securitisation data to the RBA with the monthly distribution date for asset-backed securities (i.e. the 7 day reporting allowance is being removed). Any submissions not made by the monthly distribution date will result in securities having their eligibility status revoked.

February 2018

Notification of Validation Rules update

Updates to the validation rules will be applied to the Securitisation System effective Thursday, 1 February 2018.

Information regarding the activation of validation rules can be viewed from the Securitisation System Active Rules [XLSX] document located in the Validation Rules section of the Securitisation Industry Forum.

2017

December 2017

Reminder of the Upcoming Removal of the 7 day reporting allowance

As announced on 1 March 2017, the RBA will align the deadline for reporting securitisation data to the RBA with the monthly distribution date for asset-backed securities (i.e. the 7 day reporting allowance is being removed). This change will take effect on 1 March 2018, after which any submissions not made by the monthly distribution date will result in securities having their eligibility status revoked.

Notification of Validation Rules update

Updates to the validation rules will be applied to the Securitisation System effective Friday, 1 December 2017.

Securitisation System Active Rules [xlsx]

November 2017

Notification of Validation Rules update

Updates to the validation rules will be applied to the Securitisation System effective Wednesday, 1 November 2017.

Securitisation System Active Rules [xlsx]

October 2017

Upcoming Changes to the RMBS Reporting Guidance

The RBA will publish an update to the RMBS reporting guidance in early 2018 to bring the definition of loan-level fields into line with those in the Economic and Financial Statistics (EFS) collection, following the publication of the EFS reporting requirements in August 2017.

September 2017

Notification of Validation Rules update

Updates to the validation rules will be applied to the Securitisation System effective Friday, 1 September 2017.

Information regarding the activation of validation rules can be viewed from the Securitisation System Active Rules [xlsx] document located in the Validation Rules section of the Securitisation Industry Forum.

August 2017

Notification of Validation Rules update

Updates to the validation rules will be applied to the Securitisation System effective Tuesday, 1 August 2017.

Information regarding the activation of validation rules can be viewed from the Securitisation System Active Rules [xlsx] document located in the Validation Rules section of the Securitisation Industry Forum.

July 2017

Changes to the Securitisation System Reporting Guidance

The RBA has made a number of changes to the Securitisation System reporting guidance to strengthen data The RBA has updated the Securitisation System reporting guidance. The updated guidance is unchanged from the draft version published on 1 June 2017. The RBA will be implementing a number of validation rules from August 2017 that will assist issuers in meeting the updated requirements. These validation rules will initially be set to a ‘warning’ severity, before switching to a ‘fail’ severity from 1 July 2018.

June 2017

Changes to the Securitisation System Reporting Guidance

The RBA has made a number of changes to the Securitisation System reporting guidance to strengthen data quality in the system and address common areas of confusion in the existing guidance. Draft versions of the updated guidance were published today on the Securitisation Industry Forum (SIF) website. Information Providers (IPs) are invited to provide comments to the Securitisation Support Centre (SSC) by Friday 23 June 2017. Final versions will be published on the SIF on Monday 3 July 2017.

May 2017

Notification of Validation Rules update

Updates to the validation rules will be applied to the Securitisation System effective Monday, 1 May 2017.

Information regarding the activation of validation rules can be viewed from the Securitisation System Active Rules [xlsx] document located in the Validation Rules section of the Securitisation Industry Forum.

Any queries on the above should be directed to the Securitisation Support Centre.

April 2017

Notification of Validation Rules update

Updates to the validation rules will be applied to the Securitisation System effective Monday, 3 April 2017.

Information regarding the activation of validation rules can be viewed from the Securitisation System Active Rules [xlsx] document located in the Validation Rules section of the Securitisation Industry Forum.

Any queries on the above should be directed to the Securitisation Support Centre.

March 2017

Notification of Validation Rules update

Updates to the validation rules will be applied to the Securitisation System effective Wednesday, 1 March 2017.

Information regarding the activation of validation rules can be viewed from the Securitisation System Active Rules [xlsx] document located in the Validation Rules section of the Securitisation Industry Forum.

The Technical Notes for Domestic Market Operations have been updated effective Wednesday, 1 March 2017.

Any queries on the above should be directed to the Securitisation Support Centre.

February 2017

Notification of Validation Rules update

Updates to the validation rules will be applied to the Securitisation System effective Wednesday, 1 February 2017. Further information has been added to the Validation Rules page.

Information regarding active validation rules can be viewed from the Securitisation System Active Rules document located in the Validation Rules section of the Securitisation Industry Forum.

Any queries on the above process should be directed to the Securitisation Support Centre.

2016

November 2016

Notification of Validation Rules update

Updates to the validation rules will be applied to the Securitisation System effective Thursday, 1 December 2016.

Information regarding the activation of validation rules can be viewed from the Securitisation System Active Rules document located in Validation Rules section of the Securitisation Industry Forum.

Any queries on the above process should be directed to the Securitisation Support Centre.

Notification of Update to Technical Notes for Domestic Market Operations

The Technical Notes for Domestic Market Operations have been updated effective Monday, 14 November 2016.

The Eligible Securities webpage now includes information about the status of outstanding repo eligibility applications and securities that have been made ineligible for failing to comply with the mandatory reporting requirements for asset-backed securities (see Outstanding Repo Eligibility Applications and Ineligible Securities).

Repo eligibility will only be assessed by the Reserve Bank once all of the required documentation has been provided, including a Deal Data Registration and Amendment Form.

Queries on the status of outstanding applications and ineligible securities should be directed to FM Eligible Securities at Eligible_Securities@rba.gov.au.

Notification of Validation Rules update

Updates to the validation rules will be applied to the Securitisation System effective Thursday, 3 November 2016.

Information regarding the activation of validation rules can be viewed from the Securitisation System Active Rules [XLSX] document located in Validation Rules section of the Securitisation Industry Forum.

Any queries on the above process should be directed to the Securitisation Support Centre.

October 2016

Notification of Validation Rules update

Updates to the validation rules will be applied to the Securitisation System effective Tuesday, 4 October 2016.

Information regarding the activation of validation rules can be viewed from the Securitisation System Active Rules [XLSX] document located in Validation Rules section of the Securitisation Industry Forum.

Any queries on the above process should be directed to the Securitisation Support Centre.

September 2016

Notification of Validation Rules update

As previously communicated, the RBA will progressively introduce more automated validation rules to further ensure data quality.

The RBA will communicate the activation of the validation rules through the Securitisation System Active Rules document located in Validation Rules section of the Securitisation Industry Forum. The validation rules will be introduced with the ‘Warning’ severity for a stated duration, and then updated to a ‘Fail’ severity thereafter.

Please see the Securitisation System Active Rules document for detailed information.

Any queries on the above process should be directed to the Securitisation Support Centre.

August 2016

Please be advised further clarification has been provided to the Securitisation System Validations Guidance on the SIF website.

Details to the Validations Guidance can be viewed from the following link: Securitisation System Validations Guidance.

July 2016

Securitisation System Data Validation

In addition to our previous communication:

The Securitisation System now checks submitted ND code values against published guidance for the relevant asset class and applies a small number of validation rules. An invalid ND code or failure of a validation rule will result in the submission being rejected, with the reason for any failures listed in the event log.

Any submission returning a ‘Warning’ result is accepted by the system, similar to a ‘Pass’ result. The ‘Warning’ feedback identifies a field or rule the RBA would like the issuer and information provider to review in their future submissions, as the ‘Warning’ result will (if unchanged) become a ‘Fail’ result at some point in the future.

Notification of Completed Maintenance

Maintenance to the Securitisation production environment has been completed.

The RBA is looking to continuously improve the quality of data in the Securitisation System. As part of this, the System will now provide additional feedback on submissions based on the published guidance. In particular, the System will no longer accept invalid ND (No Data) codes and data inconsistencies identified by a small number of data validation rules. Over time, the number of data validation rules will be expanded and non-compliance may result in submissions not being accepted by the Securitisation System. To manage the impact, the RBA will contact individual Information Providers when it thinks that rules will have an impact on their reporting. Analysis by the RBA of recent data submissions suggests that the latest changes will have minimal impact on reporting.

As always, if you have any issue with reporting, contact the SSC and we will assist in identifying the reporting issue.

April 2016

Update to Reporting Guidance

The Consolidated Reporting Guidance for RMBS, CMBS and OABS has been updated. Refer to the change log tab in the file for details.

Update to Support Material

The Securitisation System Validations Guidance has been updated. Refer to the change log tab in the file for details.

March 2016

Update to Reporting Guidance

The Consolidated Reporting Guidance for RMBS, CMBS and OABS has been updated. Refer to the change log tab in the file for details.

Update to Support Material

The Securitisation System Validations Guidance has been updated. Refer to the change log tab in the file for details.

2015

July 2015

Cash Flow Waterfall Template

The template has been updated to reflect advice with respect to internal securitisations (non-marketed asset-backed securities) and redacting commercially sensitive information in the publicly reported template (refer to Section 8).

Update to Reporting Guidelines

Please see this section for additional information on Public Availability and Data Availability, Privacy and Liability requirements.

June 2015

Consolidated Reporting Guidance

The Consolidated Reporting Guidance for RMBS has been updated to provide further clarity to the data requirements. Refer to the change log tab in the file for details.

May 2015

Update to Support Material

The Securitisation System Validations Guidance has been updated to provide further clarity. Refer to the change log tab for details.

Consolidated Reporting Guidance

The Consolidated Reporting Guidance for RMBS, CMBS and Other ABS has been updated to provide further clarity to the data requirements. Refer to the change log tabs in these files for details.

Update to Reporting Guidelines

Please see this section for additional information on Public Availability and Data Availability, Privacy and Liability requirements.

Postcode Pool-level Data Template

The Postcode Pool-level Data Template has been updated to provide further clarity. Refer to the change log tab for details.

Consolidated Reporting Guidance

The Consolidated Reporting Guidance for RMBS, CMBS and Other ABS has been updated to provide further clarity to the data requirements. Refer to the change log tabs in these files for details.

April 2015

Update to Support Material

The Securitisation System Technical Support Notes and B2B API Technical Implementation Notes have been updated. Refer to the change log tabs in these files for details.

Update to Support Material

The Securitisation System Validations Guidance has been updated to provide further clarity to the validation checks. Refer to the file's change log tab for details.

The Q&A section has been updated

Please see this section for RBA responses to questions from Information Providers in relation to Cash Flow Waterfall Model.

March 2015

The Q&A section has been updated

Please see this section for RBA responses to questions from Information Providers in relation to Loan and Security Level.

The Q&A section has been updated

Please see this section for RBA responses to questions from Information Providers in relation to Transaction, Security, Loan Level, Cash Flow Waterfall Model, Implementation Arrangements, and Data Availability.

Update to Support Material

The Securitisation System Technical Support Notes has been updated to version 1.6 to provide further clarity. Please refer to Appendix A: Document Control for details.

February 2015

The March 2015 Progress Reports are due

Please download the updated Information Provider Progress Report, complete and send to securitisations@rba.gov.au by Wednesday, 11 March 2015.

January 2015

The Q&A section has been updated

Please see this section for RBA responses to questions from Information Providers in relation to Transaction, Security, Loan and Cash Flow Waterfall Model.

Update to Support Material

The B2B API Technical Implementation Notes has been updated (version 1.1) to provide further clarity to assist users of the API web services.

Consolidated Reporting Guidance

The Consolidated Reporting Guidance for RMBS, CMBS and Other ABS has been updated to provide further clarity to the data requirements. Refer to the change log tab for details.

2014

December 2014

Consolidated Reporting Guidance

The Consolidated Reporting Guidance for RMBS, CMBS and Other ABS has been updated to provide further clarity to the data requirements. Refer to the change log tab for details.

Support Material

The CMBS and Other ABS Example Excel Data Submission Files (version 1.0) are now available.

Consolidated OABS Reporting Guidance

The Consolidated OABS Reporting Guidance has been updated to provide further clarity to the data requirements. Refer to the change log tab for details.

Consolidated RMBS Reporting Guidance

The Consolidated RMBS Reporting Guidance has been updated to provide further clarity to the data requirements. Refer to the change log tab for details.

November 2014

October 2014

The October 2014 Progress Reports are due

Please download the updated Information Provider Progress Report, complete and send to securitisations@rba.gov.au by Wednesday, 8 October 2014.

September 2014

Consolidated RMBS Reporting Guidance

The Consolidated RMBS Reporting Guidance has been updated to provide further clarity to the data requirements. Refer to the change log tab for details.

Technical Delivery Forum Q&A Summary – 21 August 2014

A summary of the Technical Delivery Forum Q&A discussion that took place on 21 August 2014 is now available.

August 2014

Updates to Support Material files

The Cash Flow Waterfall XML Generation Tool has been updated to run on Microsoft Excel 2010 and 2013, both 32- and 64-bit versions. The Technical Support Notes have been revised to reflect this update.

July 2014

Technical Delivery Forum Q&A Summary – 17 June 2014

A PDF containing the summary of the Technical Delivery Forum Q&A discussion that took place on 17 June 2014 is now available.

June 2014

The June 2014 Progress Reports are now overdue

Please download the Information Provider progress report, complete and send to securitisations@rba.gov.au as soon as possible.

The June 2014 Progress Reports are due soon

Please download the Information Provider Progress Report, complete and send to securitisations@rba.gov.au by Wednesday, 11 June 2014.

The Q&A section has been updated

Please see this section for RBA responses to questions from information providers in relation to Technical Issues, Validation and Cash Flow Waterfall Model.

May 2014

The Q&A section has been updated

Please see this section for RBA responses to questions from information providers in relation to the Cash Flow Waterfall Model.

The Q&A section has been updated

Please see this section for RBA responses to questions from information providers in relation to Technical Issues, Data Availability and Implementation Arrangements.

The Q&A section has been updated

Please see this section for RBA responses to questions from information providers in relation to Transaction, Security, Loan and Pool Level, Data Availability and Implementation Arrangements.

April 2014

The April 2014 Progress Reports are now overdue

Please download the updated Information Provider progress report, complete and send to securitisations@rba.gov.au as soon as possible.

The April 2014 Progress Reports are due soon

Please download the updated Information Provider Progress Report, complete and send to securitisations@rba.gov.au by Wednesday, 9 April 2014.

The Q&A section has been updated

Please see this section for RBA responses to questions from information providers in relation to Pool Level, Validation, Cash Flow Waterfall Model, Data Availability and Implementation Arrangements.

March 2014

Securitisations System Tender Awarded

As a result of an open tender process, the Reserve Bank of Australia has awarded a contract to Lewtan Australia Pty Ltd (Lewtan) to supply and support the Securitisations System. The Securitisations System will collect, validate and store the securitisations data submitted by Information Providers, for use for risk management and analysis purposes within the RBA. The RBA will be working with Lewtan to deliver the Securitisations System in accordance with the timeline set out in the Implementation Arrangements section of the Securitisations Industry Forum website. Progress updates and details of the Securitisations System will be provided in the coming months via the Securitisations Industry Forum website.

February 2014

The February 2014 Progress Reports are now overdue

Please complete and send to securitisations@rba.gov.au as soon as possible.

The Q&A section has been updated

Please see this section for RBA responses to questions from information providers in relation to Data Availability, Loan Level, Security Level and Transaction Level.

January 2014

The February 2014 Progress Reports are due soon

Please download the updated Information Provider Progress Report, complete and send to securitisations@rba.gov.au by Wednesday, 12 February 2014.

The Q&A section has been updated

Please see this section for RBA responses to questions from information providers in relation to Loan Level, Security Level and Transaction Level.

The Q&A section has been updated

Please see this section for RBA responses to questions from information providers in relation to Data Availability, Implementation Arrangements, Loan Level and validation.

The Q&A section has been updated

Please see this section for RBA responses to questions from information providers in relation to Data Availability, Implementation Arrangements and Loan Level.

2013

December 2013

Site has been updated

These updates reflect the RBA's response to the new eligibility criteria for CMBS and Other ABS.

The December 2013 Progress Reports are now overdue

Please complete and send to securitisations@rba.gov.au as soon as possible.

The Q&A section has been updated

Please see this page for RBA responses to questions from information providers in relation to Loan Level and Cash Flow Waterfall Model.

November 2013

The December 2013 Progress Reports are due soon

Please download the updated Information Provider Progress Report, complete and send to securitisations@rba.gov.au by Wednesday, 11 December 2013.

October 2013

The October 2013 Progress Reports were due last week

Please complete and send to securitisations@rba.gov.au as soon as possible.

September 2013

Letter to Information Providers

This letter from Assistant Governor Guy Debelle requests project manager contact details for industry progress reporting.