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).
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Ending the trans-Tasman confusion
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28 September 2004 12:00amKey controversies in the theory and practice of banking regulation deserve to push themselves to the forefront of bureaucratic process, announced by New Zealand's finance minister, Michael Cullen on Friday, that would lead to some sort of harmonisation of the banking rules in Australia and New Zealand. » read more »
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No relief for Westpac
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28 September 2004 12:00amCutting the regulatory manual down to size ought to realise some real savings in the costs of regulation, but if the early mail is right, there's not much to look forward to in the forthcoming review. » read more »
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Fahour lines up new team for NAB's Australian bank
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28 September 2004 12:00amNational Australia Bank has announced several senior appointments as it moves to integrate its Australian banking division. » read more »
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Reserve backs deposit insurance
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24 September 2004 12:00amDeposit insurance might make its way onto the banking agenda after the federal election, with the Reserve Bank of Australia once again sticking its neck out and calling for the adoption of this approach in its half yearly Financial Stability Review, published yesterday. » read more »
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RBA goes cold on hot money
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24 September 2004 12:00amThe Reserve Bank's Financial Stability Review is an interesting read, if only for an efficient tour of a lot of the key data about the banking industry. » read more »
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Consumer credit stress eases
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24 September 2004 12:00amThe coalition's family payment give aways in the federal budget were good for one thing; they've sent the debt servicing ratio into reverse in the latest quarter. In a tour of consumer credit trends over the last six months, the RBA noted: » read more »
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General provisions too low for new style housing lending
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24 September 2004 12:00amThe Reserve Bank suggested in the Financial Stability Review that the level of banks' general provisions was too low, mainly because of the trend toward low doc and no doc loans, and other innovations in housing lending which means that banks aren't as prudent in providing home loans as they once were. » read more »
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Concentrated mortgage insurance sector a risk
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24 September 2004 12:00amThe RBA's also cottoned on to the "potential vulnerability of the reliance of banks on a small number of mortgage insurers." » read more »
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Listed capital trust may fund credit union growth
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23 September 2004 12:00amA group of more than 30 mid-sized or smaller credit unions is progressing with plans that would enable them to raise capital from beyond their traditional membership base, via a trust that would in turn seek outside capital and that may list on the Australian Stock Exchange. » read more »
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Cuscal confirms capital return
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23 September 2004 12:00amWhile some credit unions mull over what may amount to the most radical plan yet to underwrite the growth the sector, most credit unions will soon benefit from the release of capital by the sector's dominant central services provider, Credit Union Services Corp. » read more »
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Cuscal profit eases in second half
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23 September 2004 12:00amFinancial statements for Credit Union Services Corp for the year to June 2004 published yesterday show that: » read more »
