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Members Equity Bank to fund mortgages from deposits

Staff Reporter 1 minute read

Members Equity Bank looks set to overhaul the way it funds home loans as a result of the liquidity problems affecting financial markets, reports The Courier-Mail.

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Since acquiring its banking licence in 2001, Members Equity Bank has relied on RMBS to finance its lending activities. However, since the August funding crisis the bank has been forced to diversify its funding base.

The bank’s chief financial officer Nick Vamvakas said that retail deposits lodged with the bank would now be used to finance home loans from January.

 

Members Equity Bank to fund mortgages from deposits
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