Ann: Interim update, page-11

Where did you read that?

The plan is for the fed to use its AAA credit rating to borrow money itself ... then to charge more when buying securitised loans. The fed govt will make an arbitrage (as they did during the GFC when they bought mortgage backed securities) and they’ll compete with others for bundles from Fintechs like AXL (thus lowering the funding costs for AXL etc).

The whole idea is to provide additional and lower cost lending via Fintechs that aren’t secured via property (as banks generally insist of property security). They’re talking both secured and unsecured - but secured will only be secured against equipment (not properties).