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Reserve subject to lower legal threshold on designation
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22 June 2005 12:00amTom Bathurst, advocate for the Reserve Bank of Australia, yesterday argued in his closing submission in the Eftpos case before the Federal Court that the RBA was subject to a "a lower threshold" in forming its opinion that the Eftpos system in Australia should be "designated" under the Payments System (Regulation) Act than the legal threshold that would apply to the RBA should the central bank press on, following consultation, and impose regulations under the PSRA. » read more »
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Visa comes clean on cards at risk
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22 June 2005 12:00amA flurry of media activity over the last couple of days inspired the progressive theft by hackers of around 40 million credit card numbers from CardSystems, a US-based card processor, has flushed out more details than credit card associations and banks would normally want to reveal. » read more »
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Expensing share options costs ANZ $50m
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22 June 2005 12:00amANZ Bank said it estimated the impact to earnings from expensing options under International Financial Reporting Standards at "approximately $50 million per year", or equal to less than two per cent cash earnings, the Financial Review reports. » read more »
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AMS and Wizard fix arrears reporting
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22 June 2005 12:00amGE Capital's refashioning of the back office systems of Australian Mortgage Securities and Wizard Home Loans has turned up significant reporting error by AMS of home loan arrears. The error means that credit rating agencies have had to revise, upwards, their estimates of the incidence of arrears across the entire pool of securitised mortgages. » read more »
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Merchant card surveys go missing
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22 June 2005 12:00amThe Federal Court spent two more days taking evidence from witnesses on Tuesday and Friday last week into the Eftpos case, with closing submissions beginning yesterday. » read more »
-
Reserve subject to lower legal threshold on designation
-
22 June 2005 12:00amTom Bathurst, advocate for the Reserve Bank of Australia, yesterday argued in his closing submission in the Eftpos case before the Federal Court that the RBA was subject to a "a lower threshold" in forming its opinion that the Eftpos system in Australia should be "designated" under the Payments System (Regulation) Act than the legal threshold that would apply to the RBA should the central bank press on, following consultation, and impose regulations under the PSRA. » read more »
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Visa comes clean on cards at risk
-
22 June 2005 12:00amA flurry of media activity over the last couple of days inspired the progressive theft by hackers of around 40 million credit card numbers from CardSystems, a US-based card processor, has flushed out more details than credit card associations and banks would normally want to reveal. » read more »
-
Expensing share options costs ANZ $50m
-
22 June 2005 12:00amANZ Bank said it estimated the impact to earnings from expensing options under International Financial Reporting Standards at "approximately $50 million per year", or equal to less than two per cent cash earnings, the Financial Review reports. » read more »
-
AMS and Wizard fix arrears reporting
-
22 June 2005 12:00amGE Capital's refashioning of the back office systems of Australian Mortgage Securities and Wizard Home Loans has turned up significant reporting error by AMS of home loan arrears. The error means that credit rating agencies have had to revise, upwards, their estimates of the incidence of arrears across the entire pool of securitised mortgages. » read more »
-
Merchant card surveys go missing
-
22 June 2005 12:00amThe Federal Court spent two more days taking evidence from witnesses on Tuesday and Friday last week into the Eftpos case, with closing submissions beginning yesterday. » read more »
-
Reserve subject to lower legal threshold on designation
-
22 June 2005 12:00amTom Bathurst, advocate for the Reserve Bank of Australia, yesterday argued in his closing submission in the Eftpos case before the Federal Court that the RBA was subject to a "a lower threshold" in forming its opinion that the Eftpos system in Australia should be "designated" under the Payments System (Regulation) Act than the legal threshold that would apply to the RBA should the central bank press on, following consultation, and impose regulations under the PSRA. » read more »
