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Commonwealth has possibly broken banking rules by buying back stressed loans – NEWS.com.au
Commonwealth has possibly broken banking rules by buying back stressed loans
Commonwealth Bank has been buying back stressed mortgages from its securitisation trusts during the coronavirus pandemic, possibly breaching banking standards. CBA from March to July bought back about $80 million worth of stressed home loans from securitisation trusts, which are residential mortgage-backed bonds usually sold on to investors, according to The Australian.
The concept behind selling on stressed loans in the form of a collective mortgage-backed security is to remove the risk from the…
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