Welcome to the RBA Securitisations Industry Forum

The RBA Securitisations Industry Forum has been set up to facilitate communication between the RBA and information providers to help ensure a smooth transition to the RBA's new repo eligibility criteria for asset-backed securities.

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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.

Securities that lose eligibility due to late reporting will remain ineligible until all outstanding submissions related to that security have been made and a subsequent submission has been completed successfully by the due date. As a result, missing the reporting deadline will result in securities being ineligible for repo with the Reserve Bank for at least a month and possibly longer if a submitter misses the deadline for more than one consecutive month.

Information Providers should contact the Securitisation Support Centre ( ssc@rba.gov.au or 1800 919 211) as soon as possible if they anticipate having difficulty adhering to this requirement by 1 March 2018.

Notification of Validation Rules update

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

Information regarding the 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.

Notification of Validation Rules update

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

A number of loan-level rules have been introduced this month to help Information Providers (IPs) adhere to the updated guidance around the use of ND5 – data not applicable – that was published in July 2017. Following feedback from IPs, the RBA is investigating the feasibility of applying a tolerance to these rules, so that a passing submission is still achievable when there is data missing for a small number of loans. As a result, a ‘Rule Severity Set to Fail’ date has not been nominated and these rules will remain at a ‘warning’ severity (with no tolerance) 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.

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