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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 - RBA sidesteps on capital question RBA sidesteps on capital question
28 August 2014 7:04am
An opinion on the central policy options advanced by David Murray's Financial System Inquiry is shadily included in the Reserve Bank of Australia's second submission. » read more »
Subscription content please login to view - No formal role needed for CFR No formal role needed for CFR
28 August 2014 7:03am
The RBA discards the option of "formalising the role" of the Council of Financial Regulators in its second submission to the Murray inquiry. » read more »
Subscription content please login to view - Macroprudential unproven, concludes RBA in second Murray FSI submission Macroprudential unproven, concludes RBA in second Murray FSI submission
28 August 2014 7:02am
The Reserve Bank of Australia "concurs with the Interim Reportís caution regarding unproven macroprudential tools," it said in its second submission to the Murray inquiry. » read more »
Subscription content please login to view - Deposits guarantee 'in public interest' insists RBA Deposits guarantee 'in public interest' insists RBA
28 August 2014 7:01am
The RBA has defended the A$250,000 cap on guaranteed bank deposits in its second submission to the Murray inquiry. » read more »
Subscription content please login to view - 'No evidence' to warrant capital surcharge: Westpac 'No evidence' to warrant capital surcharge: Westpac
28 August 2014 7:00am
There is "no clear basis on which to require additional capital holdings," Westpac insisted yesterday in its second round submission to the Financial System Inquiry. » read more »
Subscription content please login to view - Small players want a level playing field Small players want a level playing field
28 August 2014 6:59am
The Customer Owned Banking Association yesterday released its second submission to the Financial System Inquiry,  repeating its call for further competition in the Australian banking sector. COBA  targeted what it described as the unfair funding cost advantages of systemically-important major banks, and the risks they posed. » read more »
Subscription content please login to view - KPMG warns against over-regulation KPMG warns against over-regulation
28 August 2014 6:55am
In its second submission to the Financial Services Inquiry, KPMG started off with a suggestion that the cumulative impact of regulation be calculated first. The firm raised the importance of a cost benefit analysis across all regulatory agencies.
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Subscription content please login to view - A hybrid note bubble? A hybrid note bubble?
28 August 2014 6:53am
Challenger Limited launched a A$250 million hybrid note issue yesterday. The issue was flagged in its full year results announcement last week, and follows upsizing of CBAís PERLS VII hybrid note issue to $2.6 billion, from $2.0 billion, the day before. » read more »
Subscription content please login to view - Veda beats prospectus forecasts Veda beats prospectus forecasts
28 August 2014 6:48am
Credit reporting and data analytics company Veda Group has released its first full-year financial report since listing on the Australian Securities Exchange last December, producing a performance exceeding its prospectus forecasts. » read more »
Subscription content please login to view - Sub four per cent lending rates return Sub four per cent lending rates return
28 August 2014 6:46am
Heritage Bank yesterday chirpily boasted that it "broke the magical four per cent barrier, offering one of the lowest advertised home loan annual percentage rates of any Australian bank."

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Subscription content please login to view - Briefs: Bibby warns on SME cashflow, app developers' kit from PayPal Briefs: Bibby warns on SME cashflow, app developers' kit from PayPal
28 August 2014 6:44am
A slowing of cash flow has meant most small businesses are holding on to their cash, according to a recent survey by Bibby Financial Services. » read more »
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