St. George Raises AUD1bn

Australia's fifth-largest lender, St. George Bank, is ahead of schedule in its term wholesale funding requirements for 2009. St. George announced on September 1 that it has sold AUD1.05bn (US$901.30mn) in residential mortgage-backed securities (RMBS), bringing its 2009 funding requirements to 40% completed. The bank has an estimated US$11-12bn in requirements for 2008 and 2009.

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