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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).

Briefs: TMB launches unsecured note issue, SecurePay partners with NAB, Fintech hub for Sydney, Fiji relaxes FX controls
26 November 2014 6:38am
Teachers Mutual Bank has launched its inaugural issue of senior unsecured notes. The bank is seeking A$50 million of funding.
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5 JOB ADS
26 November 2014 6:37am
Product Manager, Business Transaction Accounts - Melbourne
Play a key role within the team responsible for business customers in the SME and Corporate segments and will also have carriage for vendor management and internal communications functions.
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Remittance providers reprieved until Friday
25 November 2014 10:43am
Australian remittance providers have won a reprieve in their battle to stay in business. Westpac confirmed it has consented to temporary orders made in the Federal Court following a hearing on Friday afternoon. » read more »
Gender pay gap widest in financial services
25 November 2014 10:42am
The gender pay gap in the financial services industry is the widest out of 19 industries surveyed by the Workplace Gender Equality Agency for its latest report on female workforce participation. » read more »
NAB’s pay equity trends mixed
25 November 2014 10:41am
The pay gap endured by National Australia Bank’s staff, mainly at more senior levels, closed a little in 2014. NAB is a rare bird in making disclosures on this topic, in its social responsibility report. » read more »
Heritage sacrifices mortgage margins
25 November 2014 10:40am
Margins on home loans may come under more pressure across the industry, with Heritage Bank adopting a "limited time" rate perceived by competitors as unlikely to cover its cost of funds. » read more »
People’s Choice buys TIO Bank
25 November 2014 10:39am
People’s Choice Credit Union will acquire TIO Bank from the Northern Territory government from January. The NT government sold the banking arm of Territory Insurance Office for A$48 million, local NT media reported. » read more »
Trust in banks has to be rebuilt, Murray says
25 November 2014 10:39am
With only a week to go before the Financial System Inquiry hands its findings to the Government, Inquiry chair David Murray turned his attention to questions of leadership, culture and "human systems" at a lunch in Sydney yesterday. » read more »
Beyond Bank returns to the RMBS market
25 November 2014 10:38am
Beyond Bank has completed its second issue of residential mortgage-backed securities since 2011 (and its second issue ever), with pricing of the senior notes priced at a margin of 91 basis points. » read more »
LMI sector losing captive market
25 November 2014 10:37am
Moody's Investors Service is wary that a trend towards increasing percentages of higher-risk products (such as investment and interest-only loans) within lenders' home loan portfolios could be credit negative for Australian mortgage insurers. » read more »
Briefs: FOS clarification, new BPay CEO, HSBC under investigation
25 November 2014 10:36am
Clarification: The Financial Ombudsman Service wishes to clarify that the merits of the case of Goldie Marketing v FOS & Anor have not been considered or decided by a judge or court.  Contrary to an impression given in an article in Banking Day yesterday, there has been no final decision made in this case, and neither a judge or court has considered the merits of the matter at a full hearing » read more »
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