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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).

Suncorp Bank prices A$950 million five year covered bond
24 October 2014 6:50am
Late yesterday, following on from its annual general meeting, Suncorp Bank announced it had priced its new five-year covered bond transaction, launched earlier in the day.

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Australia's NPP continues apace
24 October 2014 6:48am
Innovation is appearing on the Australian payments landscape's horizon, with the ever-widening use of contactless payments merely "the most obvious recent example", according to Reserve Bank of Australia governor Glenn Stevens. » read more »
Cash is invisible to corporate treasurers
24 October 2014 6:47am
According to the latest "Corporate Treasury and CFO Outlook" survey of 30 corporate finance execs in Australia by BNP Paribas, an often overlooked issue facing companies is just how much cash they actually have in hand, along with how to manage it optimally.
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Australian equities houses overpay ASX fees
24 October 2014 6:46am
An industry-funded research report commissioned by a group of ten equities market clearing participants – including Pershing, Citi, Deutsche Bank, Credit Suisse, Morgan Stanley and Bank of America Merrill Lynch – has found Australia to be one of the world’s most expensive developed markets to clear and settle equities. » read more »
Briefs: ING Direct drops intro rate, CBA lifts adviser standards, UK banker quits over prison threat
24 October 2014 6:45am
As part of its strategy of converting more of its customers to "main financial institution" customers, ING Direct has dropped the 125 basis point intro rate on its Savings Maximiser product and introduced a 125 bps bonus for customers who also have an Orange Everyday transaction account and deposit a minimum of A$1000 a month.
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UBS pitches geared investment products to SMSFs
23 October 2014 6:58am
Concerns about borrowing by superannuation funds outlined in the interim report of the Financial System Inquiry have not deterred investment bank UBS from launching a limited recourse borrowing arrangement linked to a portfolio of shares and exchange traded funds. » read more »
Treasury releases simple corporate bond regulations
23 October 2014 6:57am
Treasury has released draft regulations designed to streamline the disclosure regime for corporate bond issuers, as part of the Government's plan to encourage the development of a stronger corporate bond market. » read more »
Chickenfeed Libor fine from EU
23 October 2014 6:56am
Fines totalling €93.6 million (A$134 million) have been slapped on major US and European banks for forming cartels around international interest rate measures. » read more »
APRA keen to avoid home loan and deposit intervention
23 October 2014 6:54am
The  Australian Prudential Regulation Authority's chairman, Wayne Byres, appeared before the Senate Standing Committee on Economics yesterday and raised "two issues of current interest", namely the prudential regulator's stance on intervention in the mortgage market and the publication of MySuper statistics » read more »
More customers go mobile-only
23 October 2014 6:53am
For a growing number of retail banking customers, mobile banking is now the only way they regularly interact with their bank. » read more »
Adelaide tacks to the downside on home loan rates
23 October 2014 6:52am
Bendigo's Adelaide Bank is adding spark in the mortgage market, with cuts of around 20 basis points freshening up the bank's pricing on two product types. » read more »
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