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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HBOS hires David Willis
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30 June 2004 12:00amHBOS yesterday said it appointed David Willis, a former Westpac executive, as chief executive for HBOS Australia, effective from tomorrow. He will be based in Sydney. » read more »
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Willis targets organic growth for HBOS
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30 June 2004 12:00amDavid Willis ran the Lloyds Bank subsidiary in Australia in the early to mid 1990s. He moved to Westpac as global head of corporate finance in 1996; moved more or less sideways to be head of Westpac markets a couple of years later, and then replaced David Morgan as head of the Westpac Institutional Bank in early 1999. » read more »
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David Willis' Westpac earnings record
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30 June 2004 12:00amDavid Willis managed Westpac's institutional business for roughly four years, from about the middle of Westpac's 1999 financial year to about the middle of the bank's 2002 financial year. The pre-tax profit for Westpac Institional Bank over the last five years was: » read more »
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Cooperation between regulators a major Basel II implementation issue
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30 June 2004 12:00amWhile welcoming Saturday's publication of the Basel II capital adequacy framework by the Bank for International Settlements, two leading banking associations have highlighted the need for co-operation between home and host supervisors of internationally active banks. » read more »
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BIS scales the benefit of Basel II
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28 June 2004 12:00amThe Bank of International Settlements appears to have strengthened its resolve to maintain the aggregate level of capital within the banking system globally, and thus dashed any expectations that some banks would enjoy even modest reductions in the level of capital they must hold. » read more »
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Floor under bank capital
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28 June 2004 12:00amThe Basel II capital accord may be close to final, but the second version will not replace the first. » read more »
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Innovations reserved for the initiated
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28 June 2004 12:00amThe BIS published the 251 document on Sunday morning, Australian time, and in a piece of poor corporate communications that is going to drive the world's banking regulators, banks, bank analysts and also journalists to distraction, there's no guide to what is new and what is important in the framework. » read more »
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Deadline 2007, possibly
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28 June 2004 12:00amThe Basel II framework document may talk about the application of floors from 2006, but in there's no exact timetable for the introduction of the revised version of the Basel capital accord, at least on a global basis. » read more »
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Credit cards receive easier treatment
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28 June 2004 12:00amOne product line which banks will be able to treat more flexibly, at least compared with the early 2003 draft of Basel II, is credit cards. » read more »
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Few US banks subject to Basel II
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28 June 2004 12:00amOne twist on the Basel II debate is that in the US, hardly any banks will be made to adapt the new rules. » read more »
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CFO briefing on Basel II
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28 June 2004 12:00amIf that's not enough, there's another five thousand words or so on the significance of Basel II, to financial managers in companies generally and not directly to bankers, published in the July edition of the Fairfax monthly magazine, CFO. Roger Hogan (the magazine's editor), and Stuart Mackenzie and Ian Rogers (the pair behind this newsletter) wrote the package of articles. » read more »
