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).
- Banks too circumspect for Treasury chief
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02 March 2015 7:15amCheap credit will assist Australia's economic restructuring, John Fraser said on Friday, in his first speech as secretary of the Treasury.
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- BOQ's cloud computing experiment fails to clear hurdles
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02 March 2015 7:14amThe Bank of Queensland's three-year offshore cloud computing experiment is over, costing the bank A$10 million. » read more »
- Yellow Brick Road bulks up loan book, revenues and losses
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02 March 2015 7:14amYellow Brick Road bulked up during the six months to December, with the acquisitions of Resi Mortgage Corp and Vow Financial adding substantially to revenues and loans under administration. But costs grew faster and the company reported a bigger loss, compared with the previous corresponding period. » read more »
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02 March 2015 7:13amIf you haven’t seen the latest copy of the full event guide, you can download it here. Here are 4 reasons why you can’t afford to miss out. » read more »
- NZ's TSB hit by coal slump
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02 March 2015 7:13amTSB Bank has written off all of its NZ$53.9 million in loans to state-owned coal miner Solid Energy after a slump in coal export prices, carving 74 per cent off the New Zealand regional lender's nine-month net profit. » read more »
- Deposit growth still healthy, despite low rates
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02 March 2015 7:13amGrowth in mortgage lending has plateaued, with Reserve Bank data showing that the annual growth rate was unchanged in November, December and January. It remains to be seen what impact last month's rate cut will have on February's figures. » read more »
- Lenders yet to cut rates
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02 March 2015 7:12amMore than a dozen mortgage lenders have not changed their variable mortgage rates in response to last month's 25 basis point reduction in the cash rate. » read more »
- ADVERT: 8th Customer Experience Management
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02 March 2015 7:11am
- NZ Super Fund challenges European senior bank debt precedent
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02 March 2015 7:11amThe New Zealand Superannuation Fund is concerned its loss of US$150 million in the collapse of Portugal's Banco Espirito Santo has set a precedent endangering protections for holders of senior bank debt under Europe's new bank resolution laws. » read more »
- Briefs: ANZ aims for workplace flexibility, banks using inducements to win super business
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02 March 2015 7:10amANZ chief executive Mike Smith has sent an email to senior staff saying he wants workplace flexibility to become the norm at the bank. » read more »
- Lending benchmarks 'no cap' on credit growth
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27 February 2015 7:11amApplying benchmarks on investor lending for banks was "not about restraining credit growth and we don't think it will be particularly effective," Wayne Byres, chair of the Australian Prudential Regulation Authority, said on Wednesday night. » read more »
