More news - page 2 of 2013

Bowen lights bank merger

The Wallis era in Australian prudential regulation may be bought to close by a Labor government. APRA seems bound for a reunion with the Reserve Bank of Australia and even ASIC's status as a separate corporate cop may be ripe for a roll up. read more

Push for deposit insurance in NZ

A potential partner in the next New Zealand government - the Green Party – says it will advance the case for a national deposit insurance scheme after the September national election.Since abandoning its national deposit guarantee scheme in December 2011, New Zealand has been an outlier in OECD banking markets with zero depositor protection. read more

Prosecutions loom for power banks

Prosecutions over misuse of market power seem pending in banking, with drastic options ahead for the ACCC.Macquarie, ANZ, Commonwealth Bank, Westpac and National Australia Bank are five obvious banks on any ACCC shortlist of matters with prospects for convictions.And the fines the ACCC will seek? Whopping.The ACCC's Rod Sims intervention in banking debates on Friday, in tandem with the RBA's Michele Bullock, presents the Council of Financial Regulators antipathy to the banking sector this year in a new light. read more