Daily Flows
- The highest rate locked in yesterday remains Rabobank’s (A-1/A) 5-year offering, with yields upwards of 4.95%.
- Market liquidity is currently strong, and those with funds to place need to be highly reactive to secure any bespoke opportunities that arise.
- NCD domestic margins are holding steady at +40 for 3 months, with balanced two-way flows.
MyState and Auswide Merger Moves Full Steam Ahead
- MyState’s acquisition of Auswide has passed a key milestone, with 93.51% of Auswide shareholders voting in favour, following approval from Treasurer Jim Chalmers.
- The deal now awaits Supreme Court of NSW ratification on the 7th of February, with implementation scheduled for the 19th of February.
- The merged entity will have a $12.5 billion loan book, $9.6 billion in deposits, and net assets of $755 million, with a strong customer base across Queensland, Victoria, and Tasmania.
- This merger positions the combined entity as one of the largest mutual banks, a key consideration for market participants, potentially opening new funding opportunities for the bank.
