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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the Coupon Period ending October 19, 1998
Westpac Securitisation Management Pty Limited
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(Translation of registrant's name into English)
Level 4, 60 Martin Place, Sydney, NSW 2000, Australia
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(Address of principal executive offices
Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F___
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes___ No X
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-__________________.
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NOTEHOLDERS REPORT - SERIES 1998-1G WST TRUST
Date of Report - Determination
Date 13-Oct-98
Housing Loan Collection Period 10-Jul-98 to 09-Oct-98
(inclusive) (inclusive)
Days in Collection Period 92
Coupon Period 20-Jun-98 to 19-Oct-98
(inclusive) (inclusive)
Days in Coupon Period 91
3-month BBSW at beginning
of coupon period 5.1200% 3-month USD-LIBOR 5.68750%
Foreign Exchange Rate 0.62354525564
Available Income 36,585,397.06
Total Available Funds 36,585,397.06
Accrued Interest Adjustment 0.00
Redraws Made This Period 12,984,486.75
Redraw Shortfall 0.00
Redraw Facility Draw 0.00
RFS Issued This Period 0.00
Trust Expenses 1,543,386.36
Total Payments 31,692,082.59
Payment Shortfall 0.00
Principal Draw This Period 0.00
Total Principal Draws Outstanding 2,182,917.24
Gross Principal Collections 157,553,648.56
Principal Collections 144,569,161.81
Excess Available Income 4,893,314.47
Excess Collections Distribution 0.00
Liquidity Shortfall 0.00
Liquidity Net Draw/(Repayment)
this period 0.00
Remaining Liquidity Shortfall 0.00
Liquidation Loss 0.00
Principal Charge Offs 0.00
Prepayment Benefit Shortfall 0.00
Average Daily Balance for Qtr 2,091,298,374.01
Subordinated Percentage 2.3532%
Initial Subordinated Percentage 2.3000%
Quarterly Percentage 0.1795%
Reuters Information Principal/100,000 Coupon/100,000 Chargeoffs
Class A 0.00 6,567.0150 1,418.2235
Class B 0.00 0.0000 1,504.6597
Stated Amount - AUD Equivalent Percentage Forex Percentage
Class A 1,974,919,727.85 97.64681% 1.00000
Class B 51,800,570.54 2.35319%
RFS 0.00
100.00000% 100.00000%
TOTAL 2,026,720,298.39
Stated Amount - USD Bond Factor
Class A 1,231,451,826.56 0.8971019 0.00
Class B 32,300,000.00 1.0000000 0.00
RFS 0.00 0.00
TOTAL 1,263,751,826.56 0.8994675 0.00
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WST 1998-1G
DELINQUENCY STATISTICS
Collection Period Ended: 09-Oct-98
Number Current Balance Installment % by % by
of Loans Outstanding $A Amount $A Number Balance
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Current 18,830 1,910,486,388 14,538,745 94.77% 92.36%
1-29 Days 944 102,573,626 752,016 4.75% 5.07%
30-59 Days 69 7,842,351 57,877 0.35% 0.39%
60-89 Days 17 2,446,465 14,367 0.09% 0.12%
90-119 7 925,281 6,890 0.04% 0.05%
Days
120-149 2 167,670 1,255 0.01% 0.01%
Days
150-179 1 95,599 660 0.01% 0.00%
Days
180+ Day 0.00% 0.00%
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Total 19,870 2,024,537,381 15,371,810 100.00% 100.00%
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$A
Scheduled Principal 12,625,388.34
Unscheduled Principal 127,050,459.00
Principal Collections 139,675,847.34
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Fixed Interest Rate
Housing Loan 378,617,989
Variable Rate Housing Loans 1,645,919,392
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2,024,537,381
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf, as Trust Manager for the Series 1998-1G WST Trust, by the
undersigned, thereunto duly authorized.
Westpac Securitisation Management Pty Limited,
as Trust Manager for the Series 1998-1G WST Trust,
(Registrant)
Dated: October 21, 1998 By: /s/ Lewis E. Love
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Name: Lewis E. Love
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Title: Secretary
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