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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Bill presentment nears break even for HPAL
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16 July 2004 12:00amHPAL Limited, a mail house-turned business processing outsourcing specialist (whatever that exactly is) might be the first ASX listed company to report earnings for the June 2004 reporting period, and is the first in the banking and payments arena to do so. » read more »
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RBA turns up Eftpos data three months late
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16 July 2004 12:00amSome of the participants in April's stoush in the Australian Competition Tribunal over the regulation of wholesale fees on debit card transactions jumped into a fresh rhetorical war yesterday, with the Reserve Bank of Australia finally publishing some of the data that the bank perhaps could have, but didn't, introduce in evidence at the ACT hearing. » read more »
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Spending on charge cards displaces credit cards
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16 July 2004 12:00amThe Reserve Bank Bulletin also provides its regular monthly series on payment card use, which for May 2004 shows that: » read more »
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RBA urges surcharge on AmEx and Diners
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16 July 2004 12:00amThe Reserve Bank of Australia yesterday suggested that merchants either cease acceptance of American Express and Diners Club cards, or at least impose surcharges for their use, in a bid to engender a reduction in the level of merchant fees charged by these schemes. » read more »
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Overseas borrowing continues to fund household credit
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16 July 2004 12:00amAustralian financial institutions continue to borrow from overseas, largely to fund the expansion of domestic household credit, according to the Reserve Bank's latest Bulletin. » read more »
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NAB provides reality check on bank earnings
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15 July 2004 12:00amNational Australia Bank has rung warning bells about its own earnings outlook, and most likely that of the whole banking sector, with an announcement yesterday that the bank's cash earnings, before significant items, for the half year to September 2004 are expected to be 10 per cent to 15 per cent lower than the March 2004 half year result of $1.85 billion. » read more »
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Margins sacrificed in most consumer products
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15 July 2004 12:00amNational's reduced fees or increased marketing expenses in most consumer product lines in Australia in the first half of this year, tactics that have not been aggressively copied by many of its competitors. » read more »
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NAB's lending market share goes backward
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15 July 2004 12:00amNAB lost market share between March 2004 and May 2004 across all major lending categories, according to Australian Prudential Regulatory Authority data published at the end of June. » read more »
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And NAB more reliant interbank borrowing
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15 July 2004 12:00am
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NAB starts to strengthen market risk capabilities
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14 July 2004 12:00amAlthough there's no sign of an appointment to any of the key, vacant, executive general manager positions, National Australia Bank has made a start on strengthening its risk management capabilities with the hire of Kevin Masling in the critical role of global head of market risk. » read more »
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Cashcard seeks ATM fee caps
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14 July 2004 12:00amFirst Data Resources paid a royal price earlier this year to take over the switching and automatic teller machine business Cashcard, but the US-owned company doesn't want complete freedom to set prices for the services it provides when, and if, the ATM industry ever makes the switch to direct charging for ATM transactions. » read more »
