Investors' Seminar

The Australian securitisation market Investor seminar by The Australian Securitisation Forum

Agenda

Part I

TIME 8:45am 9:00am – 9:10am AUSTRALIAN STRUCTURED FINANCE UPDATE AND AUSTRALIAN PROPERTY MARKET OUTLOOK  Australian property and general economic outlook  Direction of interest rates  Regional differences in the property market  Arrears performance and stress testing results WELCOME from the Chief Executive Officer of the Australian Securitisation Forum Registration including light breakfast TOPIC

9:10am – 9:40am

9:40am – 10:20am 10:20am – 10:50am

ABS PANEL  Collateral types from the past and the future twelve months  Performance experience and expectations  Pricing and yield REFRESHMENT & NETWORKING BREAK

Part II

TIME 10:50am – 11:30am TOPIC RMBS ISSUER PANEL  Australian Government investment with Australian Office of Financial Management participation  Trends for transaction structures in the future  Re-finance and call dates DRIVERS OF PRIMARY MARKET ISSUANCE PRICE AND VOLUME IN 2011/2012 AND ULTIMATELY SECONDARY MARKET LIQUIDITY?  Supply of product – slowing growth of mortgage origination, deposit creation, alternative funding sources  Demand for product – appetite from liquidity books, institutional fund flows, AOFM unused buying power  Create deeper investor pools through product development – fixed rate soft bullet, redemption facilities  Official recognition of securitised and covered bonds as a source of liquidity  Research findings that explore the complexities of RMBS, in particular extension risk and the interaction of CPR and issuer call

11:30am – 12:10pm

12:10pm – 12:45pm

AUSTRALIAN & NZ COVERED BONDS  What will they look like and how will they compare with European, Korean and North American covered bonds?  Liquidity expectations  Expected issuance size of covered bonds out of Australia  Regulatory and legal framework

12:45pm

Q&A /CONCLUSION followed by lunch

Australian Economic...