- Credit unions face weird and wonderful attacks
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09 February 2010 6:56amMedium sized financial institutions are increasingly being targeted by online criminal fraudsters. “From time to time our defences get tested, as they have been in the last week or so,” says Chris Whitehead, chief executive of Credit Union Australia. » read more »
- Marac to make provision for irregular loan
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09 February 2010 6:55amFinance company Marac Finance, an arm of Pyne Gould Corp, will make a NZ$2.5 million provision after discovering an “irregular” business loan during an audit. » read more »
- Rubik buys into CCK
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09 February 2010 6:54amRubik Financial yesterday disclosed that it bought a 20 per cent stake in CCK Financial Solutions for $120,000. » read more »
- Firstfolio makes it three out of three
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09 February 2010 6:54amThe mortgage manager Firstfolio yesterday completed the third of three merger agreements it announced in November. The group has added $6 billion of assets to its existing $12 billion mortgage portfolio after acquiring First Chartered Capital, Loan Services Australia’s loan book, and Xplore Capital. » read more »
- Limits on ratings use clarified
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09 February 2010 6:54amCredit ratings agencies and their customers yesterday received further guidance from the Australian Securities and Investments Commission on the circumstances in which it is fair to widely publish a rating even when the agency does not hold a retail financial services licence. » read more »
- Seven weeks left for wholesale guarantee
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08 February 2010 7:11amThe Australian guarantee will allow banks to make use of its Guarantee Scheme for Large Deposits and Wholesale Funding for another seven weeks, with eligibility to originate debt under the scheme winding up on 31 March 2010, the Treasurer, Wayne Swan, announced yesterday. » read more »
- $5.5bn licence to rent Fed guarantee
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08 February 2010 7:09amBanks and other lenders have so far paid around $1.1 billion for the use of the Australian government guarantee over wholesale liabilities and will pay around $5.5 billion over its full life, the Treasurer Wayne Swan said yesterday. » read more »
- State borrowing guarantee wound down slowly
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08 February 2010 7:08amThe central borrowing authorities of states and territories will continue to be able to rent the Australian government guarantee until the end of December 2010 for new debt, the Treasurer, Wayne Swan, said yesterday. » read more »
- Three private equity groups woo NAB over British banking assets
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08 February 2010 7:08amNational Australia Bank may be close to working out which, if any, private equity groups to partner with in a bid for some of the banking assets for sale in Britain. » read more »
- Financial services productivity best of a bad bunch
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08 February 2010 7:08amThe financial services sector demonstrates above average (and even leading) growth in productivity measures in Australia, though for the economy overall the indicators are poor and policy makers are starting to show alarm at the trends. » read more »
- Domestic debt issuers prefer offshore markets
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08 February 2010 7:07amAll the issuance activity by Australian issuers is taking place offshore and not in the domestic market. This is, of course, consistent with the Australian Financial Centre Forum describing the domestic corporate bond market as underdeveloped, in their report given to the Treasurer, Wayne Swan, just a couple of weeks back.
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