More news - page 2 of 2029

No NPP payments in 2017

Real time payments might now limp into view by the end of February 2018, if banks' customers are lucky.Commonwealth Bank and Westpac are two big banks dragging the chain, making any debut before Christmas impractical. read more

Kellerman editing Banking Day

Bernard Kellerman is settling in as the new editor of Banking Day. Bernard is a former managing editor of AB&F and has been with Banking Day for almost four years. read more

MPs push to redefine APRA's role in banking

Political pressure is mounting on the federal government to address APRA's negative impact on competition in the banking sector, with influential cross-bench senator Nick Xenophon promising to introduce legislation next year that would reconfigure the way the prudential regulator operates. read more

Harvey Norman revives consumer lending

Harvey Norman is reviewing its financial services strategy ahead of Amazon's launch in Australia amid concern the local retail chain's consumer finance products may not stack up against payments options to be offered by the US retailing giant.The review, which could have big implications for the local retailer's existing financial services partners – Latitude Financial and Flexigroup – is already driving changes to the company's approach to in-store finance. read more

Moody's see worsening arrears over 2017

Home loans arrears in Western Australia are "the highest since our records began in 2005," Moody's Investors Service said in a gloomy report on Australian residential mortgage-backed securities released yesterday.The proportion of residential mortgages more than 30 days in arrears increased to 1.62 per cent in May 2017, "the highest rate in five years", and up from 1.50 per cent in May 2016, Moody's said - adding that "we expect mortgage delinquencies to continue to increase through the remainder of 2017." read more

Unmet needs one fault for banks

A fresh snapshot on access to and use of many basic financial services gives an unflattering view of the Australian banking sector."Almost one in three adults (31.6 per cent) had no savings," analysis by Centre for Social Impact at the University of New South Wales concluded.  National Australia Bank co-produced the report, which was released on Friday.The "unbanked" ratio, though, is low at 2.7 per cent. read more