ANZ’s markets team tips more activity in debt capital markets in 2022.
Australia and New Zealand Banking Group expects a return to more normal levels of debt market issuance this year, led by the banks returning to commercial funding markets.
Mr White said he expected the same volume of tier-two debt issuance, between $4 billion and $5 billion, for each of the major banks this year., there would be a knock-on effect for credit spreads. The CLF was created by APRA and the Reserve Bank of Australia in 2015 to allow banks to meet emergency liquidity requirements with alternative securities, because of a short supply of ultra-safe government bonds.
“It’s no real surprise that volumes dropped off last year,” Mr White said. “The domestic Australian market was down 50 per cent and that was dominated by government bond issuance.” “We saw some pullbacks, but while we saw that pulling back in issuance, there were parts of the market that performed strongly,” Mr Collins said.
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