RBA Securitisation Reporting Implementation Notice – 25 June 2015

Data Availability Requirements For Repo Eligibility

The Bank is making two adjustments to its data availability requirements for repo eligibility of RMBS. They are as follows:

  • For internal securitisations, issuers will be required to make available to permitted users a pool level summary of the loan level information. Issuers will not have to make available loan-level information to permitted users, although loan-level data will still need to be reported to the RBA. The change reflects the fact that these securities are not marketed. It also obviates the need for issuers to have in place permitted user agreements for access to loan-level information on these securities which could have resulted in selective access to potentially market sensitive data. An example template for the pool level summary can be found in ‘Related Information’.

  • For marketed securities, issuers will be able to redact a number of loan-level fields in the information they provide to permitted users, other than academics, for the first three monthly submissions after 30 June 2015. This is to give issuers time to ensure that they have the appropriate operational arrangements in place to address certain concerns they have around the disclosure of these fields. The fields are as follows:

    - RL018 – Offset account balance
    - RL046 – Restructuring arrangement
    - RL049 – Account status
    - RL050 – Default balance
    - RL058 – Claim submitted to LMI
    - RL059 – Claim paid by LMI
    - RL060 – Claim denied by LMI     		- RL061 – Claim pending with LMI
    - RL082 – Bankruptcy flag
    - RL086 – Credit score
    - RL090 – Income
    - RL092 – Non-primary borrower income
    - RL105 – Savings verification

    For academics, the fields listed above and the following additional fields may be redacted for the first three monthly submissions:

    - RL011 – Most recent approval amount-
    - RL023 – Loan purpose
    - RL051 – Foreclosure proceeds
    - RL053 – Loss on sale
    - RL054 – Days in arrears
    - RL055 – Amount in arrears     		- RL064 – Original property value
    - RL065 – Most recent property value
    - RL066 – Original property valuation type
    - RL067 – Most recent property valuation type
    - RL070 – Property type
    - RL094 – ABS statistical area

    All loan level data for marketed securities will need to be reported to the RBA from 30 June.

back to top