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).
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RBNZ agrees new macro-prudential tool kit
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17 May 2013 7:13amThe Reserve Bank of New Zealand has agreed a memorandum of understanding with Finance Minister Bill English that will give the bank the power to limit low equity mortgages as soon as July. » read more »
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S&P cuts outlook for eight NZ banks
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17 May 2013 7:11amStandard and Poor's has cut the outlook for its ratings on eight small New Zealand banks to negative, saying the ratings were vulnerable to a one or two notch downgrade within the next two years if there was a housing market correction. » read more »
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Ombudsman calls for action against credit repair agencies
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17 May 2013 7:10amThe Credit Ombudsman Service has asked the body drafting a new credit reporting code to include a rule that credit providers and credit reporting bureaus should not deal with the agent of a consumer that is charging a fee for the service. » read more »
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Advertisement: Sell and process loans over the internet
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Let your customers do the work and give them a home loan approval in just minutes with Sandstone. » read more »
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Australia a priority for HSBC
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17 May 2013 7:09amAustralia is one of the 15 "priority markets" for HSBC, says the UK-based banking group. » read more »
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BOQ and Macquarie ABS deals upsized
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17 May 2013 7:09amBuoyant conditions in the residential mortgage-backed securities market have flowed into the asset-backed securities market. Two ABS issues this week, from Macquarie Group and Bank of Queensland, have been upsized.
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Latest Smart ABS deal sends mixed price signals
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17 May 2013 7:08amPricing may have gone up a touch in the asset-backed securities market, if Macquarie Group's latest Smart Trust issue is any guide. » read more »
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Margin loan balances up, but account numbers down
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17 May 2013 7:07amMargin loan balances rose for the first time in six years in the March quarter, although not as much as lenders would have hoped, given the strong conditions in the equity market this year. » read more »
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CBA adds property to MyWealth
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17 May 2013 7:06amJust three months after launching its entry-level online investment platform, MyWealth, Commonwealth Bank has upgraded the service to incorporate residential property investment. » read more »
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Youngies love their brokers
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17 May 2013 7:06amYoung home-buyers are more likely to use a mortgage broker to find a home loan than older buyers. » read more »
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Briefs: Card rewards out of favour
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17 May 2013 7:04amConsumers would prefer a discount when they shop or some other form of instant reward to reward points, according to new research.
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