Debt Investor Relations

ASB Treasury’s funding strategy is driven by the nature of ASB’s (the bank) business and its balance sheet. Over half of the bank's assets are residential mortgages and the bank is primarily funded through customer deposits. ASB Treasury strives to match fund the behavioural maturity of ASB’s assets. Long term wholesale funding is used to meet the residual core funding task, while short term wholesale funding is primarily used to fund liquid assets.

ASB Treasury seeks to diversify the bank’s funding across formats, currencies and tenors. To achieve this, ASB participates in short and medium term borrowing programmes in domestic and offshore markets.

ASB Treasury’s funding programmes in these markets include:

• US Commercial Paper
• Euro Medium Term Notes (EMTN)
• US Medium Term Notes (USMTN)
  
• Covered Bonds
• Domestic Medium Term Notes

ASB Treasury manages funding and liquidity to meet the Reserve Bank of New Zealand's (RBNZ) prudential standards for one month and one week mismatch ratios (similar to LCR) and the core funding ratio (similar to NSFR). ASB funding also contributes to the liquidity position of its parent, Commonwealth Bank of Australia, which is regulated by the Australian prudential regulator APRA. ASB manages to Board and ALCO mandated internal stress tests and APRA/RBNZ liquidity and funding stress scenarios.

Please find our most recent financial results and Disclosure Statements below. For all NZX announcements, please visit our Media Centre.

Please find documentation for ASB’s Euro Medium Term Note (EMTN) Programme below. For covered bond programme documentation, please see our dedicated covered bond site.

ASB's key funding contacts are listed below. You can also reach the team at funding@asb.co.nz.