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Latest news and insights on banking and finance in Australia and New Zealand, as delivered in the daily 7am Banking Day email news service (subscribe or take out a free trial).

Margin loan account numbers stuck at record lows
22 May 2015 7:16am
The number of investors operating margin loan accounts has not moved from the ten-year low recorded at the end of last year. » read more »
NPP may feast on past platforms
22 May 2015 7:15am
At least one Australian bank is planning for the demise of two venerable payments systems once the New Payments Platform is up and running. » read more »
Macquarie's ABS pricing goes up
22 May 2015 7:14am
Macquarie Group has completed its second issue of asset-backed securities for the year, raising A$900 million of funds to add to the $755 million it raised in March. » read more »
ADVERT: 2015 Indue Leadership Forum: Disruption & Transformation
22 May 2015 7:13am
Register now for Indue’s annual Leadership Forum in Sydney from 27–29 May. » read more »
NAB Wealth customers get advocate
22 May 2015 7:13am
Aggrieved NAB Wealth customers will now have access to a law professor to hear their complaints, with the bank appointing Professor Dimity Kingsford Smith from the University of NSW as an independent customer advocate.

» read more »
Note Printing Australia to pay legal bills for former boss
22 May 2015 7:12am
The Court of Appeal of the Supreme Court of Victoria has dismissed an appeal by Note Printing Australia against a decision last year that its former chief executive officer, John Leckenby, be indemnified by NPA for legal costs and expenses he has incurred and will continue to incur in defending criminal proceedings.  
» read more »
Bitcoin may offer remitters reprieve from "de-banking"
22 May 2015 7:05am
Australia's anti-money laundering regulator has warned remittance providers that they must comply with anti-money laundering and counter-terrorist financing obligations if they use unregulated cryptocurrencies such as bitcoin to transfer funds between customers.
» read more »
NZ abandons KiwiSaver kick-start, super hits $2.0 trillion, ANZ's new Philippines CEO, consumers' finance worries
22 May 2015 6:58am
The New Zealand Government announced in its Budget for 2015 that it had stopped its NZ$1,000 kick-start payment to new KiwiSaver pension members from 21 May, in order to save NZ$175 million next year.
» read more »
Foreign news: China's BoCom buys into Brazil, cash declines in UK
22 May 2015 6:55am
China's Bank of Communications is set to acquire an 80 per cent stake in the Brazilian bank BBM, reports WSJ.
» read more »
Moneygram hit with largest fine in Austrac's history
21 May 2015 7:17am
The Australian Transaction Reports and Analysis Centre has levied its largest ever fine on one of the world's biggest remittance network providers, as a penalty for what Austrac describes as "systemic contraventions of Australia's anti-money laundering and counter-terrorism financing laws." » read more »
Insurance manager secures belated bonus from Westpac
21 May 2015 7:13am
A court has ordered Westpac to pay a A$70,000 bonus and costs to a retrenched insurance sales manager working in the BT Financial division.

» read more »
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