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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).

No actual default by Greece – yet
03 July 2015 7:10am
From both technical and practical perspectives Greece has not defaulted. There will only be a default when lenders to Greece call a default. » read more »
Mutuals don't appeal to young consumers
03 July 2015 7:08am
Mutuals have trouble attracting the business of young people, according to new research. » read more »
Challenger low doc mortgage tossed out
03 July 2015 7:07am
The cavalier approach of providers of low doc loans has been laid bare in a judgment of the Supreme Court of Western Australia that damns the conduct of Challenger Mortgage Management (formerly Interstar), Equity Plus Home Loans, Perpetual Funding Group, The Mortgage Alternative and Mortgages For Money. » read more »
ADVERT: 5 banks share their digital marketing and customer strategies
03 July 2015 7:06am
The digital banking era has come at the most opportune time for the finance industry. With customer loyalty and trust at an all time low following the recent economic downturn, the digital era has given the finance industry an avenue to re-connect with their customers. » read more »
Failure to follow up fax costs investor $1 million
03 July 2015 7:05am
A disgruntled investor has failed to convince the Court of Appeal of the Supreme Court of New South Wales that he was entitled to compensation and damages of around A$1.5 million as a result of the failure by the Commonwealth Bank of Australia's subsidiary, Colonial First State Investments, to redeem units in a CFS fund when instructed to do so.
» read more »
IMF finds link between bank leverage and corporate lending
03 July 2015 7:03am
The International Monetary Fund has published an "IMF Working Paper" posing the question: ‘How Does Post-Crisis Bank Capital Adequacy Affect Firm Investment?’ » read more »
Poor working capital product-mix pushes CFOs away
03 July 2015 7:01am
The finance chiefs of Asia’s 1000 largest corporates are becoming increasingly dissatisfied with the short term debt and liquidity management products offered by their main banking providers, according to research run by the newly established Asian office of banking consultants East & Partners. » read more »
ADVERT: Top tips from CBA and P&N Bank to grow business improvement success in financial services
03 July 2015 6:59am

Shane O'Connor, General Manager Group Productivity at Commonwealth Bank of Australia and Erik Fenna, Chief Information Officer at P&N Bank share a number of quick tips and detail key strategic perspectives on how to drive continuous improvement results with process excellenc
» read more »
Five years on, is Dodd-Franks too big to succeed?
03 July 2015 6:58am
On the fifth anniversary of the Dodd-Frank Act, the New York Federal Reserve has published a paper looking at whether the controversial legislation ended the spectre of "too-big-to-fail" financial institutions. » read more »
Briefs: ANZ global appoints corporate advisory leader, syndicated loans drop
03 July 2015 6:55am
ANZ has appointed Martin Hanrahan as global head of corporate advisory. » read more »
Foreign news: PayPal buys Xoom, China warned by World Bank, and more
03 July 2015 6:54am
Paypal is to acquire online international cash transfer business Xoom for US$25 a share. » read more »
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