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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Trail income to offset new loan decline
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01 July 2004 12:00amUsing the forecast 2004 financial details as actuals (given the company published the prospectus on the last day of the financial year): » read more »
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Franchisees extract rising share of commissions
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01 July 2004 12:00amThe prospectus provides some insight into the split of mortgage commissions between the company (which aggregates all up-front and trailing commissions paid by the 28 lenders on its panel), and the franchisees. » read more »
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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 »
