Sydney, August 14, 2015 -- Moody's Investors Service says that recent Australian residential mortgage-backed securitization (RMBS) transactions issued by Bendigo and Adelaide Bank Limited (A2/A2 stable, a3) and Members Equity Bank Limited (A3/A3 stable, a3) include a new principal payment waterfall feature that affords fewer protections to the senior Class A1, Aaa (sf)-rated notes in those transactions, and more protections to the Class A2 notes.
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