Wholesale Short Term Deposits (STDs)

Product Name

Wholesale Short Term Deposits (STDs)

Issuer

Teachers Mutual Bank Ltd

Category

Banking

Type

Term Deposit/Short Term Deposit

Target

Wholesale

Certified Since

2019

Asset Classes

Cash

Markets

Australia

Investment Approaches

Negative Screening, Minimum-standards (norms-based) screening

It Includes:

  • No inclusions5 No inclusions

It fully excludes:

  • Riaa icons 41 Alcohol
  • Riaa icons 36 Armaments
  • Riaa icons 33 Fossil fuels
  • Riaa icons 42 Gambling
  • Riaa icons 99 Pornography
  • Riaa icons 35 Tobacco

Overview

Teachers Mutual Bank Limited (‘The Bank’) Wholesale Sector Short Term Deposits (STDs) Funding. STD funding is comprised of :Negotiable Certificates of Deposit (NCDs), Wholesale term deposits, and Wholesale overnight deposits (11am cash- aT call) . Certification covers all new Wholesale STDs sold/issued by the Bank to any of the Bank’s counterparties. Wholesale Short Term Deposits (STDs) are Certified Ethical because these products are subject to exclusion criteria that applies across 14 categories such as fossil fuels and tobacco. That is, a wholesale counterparty who purchases these short term instruments is guaranteed that their funds are not lent to these industries.


Description


 Wholesale Short Term Deposits (STDs)  are Certified Ethical  because these products are subject to ethical exclusion criteria that applies across 14 categories. 

Various lending opportunities are disqualified from the Bank's s lending origination business. Such exclusions are where the primary purpose of the entity or business is ‘alcohol, armaments, correctional facilities, cryptocurrency, deforestation or gross environmental degradation, gambling, military activities, political activities, pornography, slavery, tobacco or uranium’.

 Fossil fuel and climate change exclusions – various lending opportunities are disqualified from The Bank's  lending origination business. Such exclusions are where:
- the purpose would be to finance large scale greenhouse gas pollution from fossil fuel exploration, extraction, production and use; or
- the purpose would be to directly lend to, buy equity or debt in any large scale greenhouse polluting activities from fossil fuel exploration, extraction, production and use.

The Bank will not directly invest in any large scale greenhouse gas polluting (i.e. fossil fuel exploration, extraction, production and use) activities or companies.

Other products certified by the Responsible Investment Association Australasia (RIAA)

Teachers Mutual Bank Limited $500m Debt Issuance Programme – Information Memorandum dated 26 November 2018

Teachers Mutual Bank Limited $500m Debt Issuance Programme - Information Memorandum dated 29 September 2014

Teachers Mutual Bank Ltd Deposit products

Teachers Mutual Bank Ltd Mortgage products

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