Following a record year of issuance in 2024, the Australian securitisation market entered 2025 on solid footing. Early-year issuance was strong, supported by tighter margins and robust demand from both domestic and offshore investors. While market activity briefly slowed in April due to uncertainty surrounding new U.S. trade policies, issuance rebounded from May onwards.
Through the year, securitisation remained a vital funding channel for mortgages, autos, SMEs and other asset classes. Despite global geopolitical uncertainty, Australia’s market demonstrated resilience, with all categories of issuers active and new entrants successfully completing inaugural deals. By the second half of 2025, issuance volumes accelerated, supported by expectations of local interest rate cuts and attractive yields drawing increased offshore participation. 2025 issuance is closing out stronlgy and as 16 December, issuance is edging very close to the $80b high of 2024.
Representation
The Australian Securitisation Forum (ASF) continued to represent the industry through extensive engagement with regulators and policymakers in Australia, New Zealand and Europe. Its advocacy covered a range of regulatory and policy issues—such as prudential treatment, disclosure requirements, and market efficiency—with submissions made to the Council of Financial Regulators, ASIC, Treasury, ACCC, and European authorities.
Promotion
During 2025, the ASF continued its program of events for members and the promotion of the securitisation industry overseas. Some of the events included the following:
- Member briefing: What’s in ahead for 2025? (Sydney, Melbourne)
- SME roundtable (Sydney)
- Mid-year securitisation market update (Sydney, Melbourne)
- Future Leaders & Young Professionals – autumn networking events (Sydney, Melbourne)
- New Zealand Securitisation conference (Auckland)
- Covered bond roundtable (Sydney)
- Annual ASF London investor seminar
- Annual ASF Japanese investor seminar at the Australian Embassy (Tokyo)
- ASF Singapore investor seminar
- Sponsorship of and panel participation/exhibit at Global ABS (Barcelona)
- Women in Securitisation nurturing female talent event (Sydney)
- Future Leaders and Young Professionals winter networking evenings (Sydney, Melbourne)
- Women in Securitisation networking luncheon with Julia Gillard as keynote speaker (Sydney)
- Future Leaders & Young Professionals trivia nights (Sydney, Melbourne)
- Women in Securitisation conference networking breakfast (Sydney)
Development
This year, the ASF was pleased to welcome over 25 new members, bringing the total membership to 225 organisations.
The ASF also worked on a number of projects to support the development and growth of the Australian and New Zealand markets.
A working group was established to consider whether an ASF guideline characterising Australian prime and non-conforming residential mortgage label. This was a topic of lively discussion at the November conference and the ASF will progress this matter in 2026.
The Sustainability subcommittee has established a working group to evaluate the suitability of the AFME ESG issuer due diligence questionnaire and design a specific questionnaire for Australian transactions.
The ASF remains committed to its education program with 18 courses delivered in 2025. Enrolments remained high, reflecting ongoing industry growth. The ASF would like to take this opportunity to thank those members who volunteer their time and expertise to present these courses during the year.
2025 culminated with the 2025 Australian Securitisation Conference at Sydney’s Hyatt Regency, which once again attracted record sponsorship and attendance.
Thank you to all our members for their contributions to the ASF this year, whether through financial, intellectual, or resourcing contributions.
As we move towards 2026, we are confident that there will be consistent growth and evolution in the securitisation market in both Australia and New Zealand.