Westpac Banking to Change Format of Long-Term USD Funding With SEC Deregistration

Dow Jones02:47

By Josh Beckerman

Westpac Banking will change the format of its long-term U.S. dollar funding, planning to voluntarily deregister from the Securities and Exchange Commission by filing a Form 15F as early as May.

"Westpac is taking this step after careful consideration of the ongoing requirements associated with SEC registration and in light of changes in the bank's funding composition," the Sydney-based bank said.

"Strong growth in household deposits has lifted the bank's deposit--to--loan ratio above 80% and Australia's domestic debt markets have deepened," Westpac said.

The banks intends to continue issuing long-term securities in the U.S. market, including under Rule 144A and section 3(a)(2) of the Securities Act of 1933.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

March 05, 2026 13:47 ET (18:47 GMT)

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