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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).

Subscription content please login to view - Correction: Newcastle Permanent Building Society Correction: Newcastle Permanent Building Society
28 July 2016 6:41am
An article published in Banking Day on Monday, "Toyota Motor Credit well received on debut", reported that last week Newcastle Permanent Building Society added A$110 million to a line of floating-rate notes it opened in March this year. This was not correct. The line NPBS tapped was opened in March 2015, when it sold $50 million of April 2020 FRNs at a margin of 135 basis points.
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Subscription content please login to view - Briefs: BT appoints Australian CEO, ANZ appoints Laos CEO Briefs: BT appoints Australian CEO, ANZ appoints Laos CEO
28 July 2016 6:39am
BT Investment Management has appointed Michael Bargholz as chief executive Australia. » read more »
Subscription content please login to view - Foreign news: UK credit card issuers offer more than three years interest free Foreign news: UK credit card issuers offer more than three years interest free
28 July 2016 6:38am
UK consumer website MoneySavingsExpert.com lists five credit card issuers currently offering zero rate balance transfer offers for three years or more.
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Subscription content please login to view - Westpac's first NZ sub-debt issue Westpac's first NZ sub-debt issue
27 July 2016 7:00am
Westpac Banking Corporation is about to undertake its first Basel III compliant, Tier 2 subordinated debt issue in New Zealand. The Bank is looking to raise up to NZ$250 million but says it will accept unlimited oversubscriptions. » read more »
Subscription content please login to view - Clean Energy Finance Corp  accelerates private sector investments Clean Energy Finance Corp accelerates private sector investments
27 July 2016 7:00am
The Clean Energy Finance Corporation may have generated more social impact from its investment program over the last year against the background of a government owner demanding a lift in returns from the public sector financier. » read more »
Subscription content please login to view - Trade payment days rise from record low Trade payment days rise from record low
27 July 2016 6:57am
Businesses took an average of 44.9 days to settle their invoices during the June quarter – the first increase in average payment days since the March quarter last year. » read more »
Subscription content please login to view - Australian covered bonds laws a patchwork that works Australian covered bonds laws a patchwork that works
27 July 2016 6:54am
Moody's Investors Service has examined the Australian legal framework for covered bonds, concluding that there are "relatively few prescriptive requirements". Instead, Australian issuers and investors are reliant on a set of legal guidelines that assume certain contracts will be in place. These contracts are therefore a component of the regulatory framework. » read more »
Subscription content please login to view - China opens bond market to foreign investors China opens bond market to foreign investors
27 July 2016 6:53am
At a time when fixed income investments across the globe are seeing plenty of activity, China, the world's largest domestic bond market player is seeking to join in. » read more »
Subscription content please login to view - Briefs: BBSW administrator wanted, High Court to rule on ANZ  late fees class action Briefs: BBSW administrator wanted, High Court to rule on ANZ late fees class action
27 July 2016 6:51am
The Australian Financial Markets Association has hired Ernst & Young to advise on the selection of a new administrator of the bank bill swap rate. » read more »
Subscription content please login to view - Foreign news: Higher US credit card losses expected, NatWest may charge to hold deposits, Visa and PayPal collaborate on digital payments, and more Foreign news: Higher US credit card losses expected, NatWest may charge to hold deposits, Visa and PayPal collaborate on digital payments, and more
27 July 2016 6:51am
Compared to the second quarter of 2015, the percentage of credit card loans at least 30 days late increased during 2Q 2016 at many large credit card issuers. » read more »
Subscription content please login to view - Big and small businesses rate their banks very differently Big and small businesses rate their banks very differently
26 July 2016 7:00am
A week after Roy Morgan Research reported that retail bank customer satisfaction levels had fallen to their lowest level since 2013, DBM Consultants report that business customer satisfaction has fallen to a four-year low. » read more »
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