Over the past few months, AFIA and other industry bodies such as the Australian Securitsation Forum (ASF) have worked closely with the Australian Office of Finance Management (AOFM) to establish a special purpose vehicle to enable non-bank lenders to access temporary liquidity support for COVID-19 hardship related missed interest payments on assets in securitisation trusts.
The SPV is funded by the AOFM through the Structured Finance Support Fund (SFSF) and is known as the Forbearance SPV (fSPV).
The fSPV is now operational and the ASF has published a high level summary of its key features. The document outlines:
How the fSPV operates.
Availability and scheduled repayment periods.
Please see here for a copy of the summary document.
Further information about the SFSF and participation in the fSPV can be found on the AOFM website.