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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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 »
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ANZ National clears final NZ hurdle
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28 June 2004 12:00amThe Reserve Bank of New Zealand on Friday approved ANZ's new structure for its merged New Zealand operations, following last year's acquisition of the National Bank of New Zealand. » read more »
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GE sources 450,000 Coles cards
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28 June 2004 12:00amIn an interview with the Nine Network's Business Sunday program broadcast yesterday, the managing director of GE Money, Tom Gentile, said: » read more »
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AMS correction
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28 June 2004 12:00am
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Orix sees hints of a finance slowdown
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25 June 2004 12:00amOrix Australia Corp is one foreign-owned finance company providing an alternative in an equipment leasing market dominated by banks and vendor-owned finance companies, and also more open than a lot of others. » read more »
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Austral, Prushka trading strongly
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25 June 2004 12:00amThe clutch of debt collection companies listed on the Australian Stock Exchange hasn't fared too well over the last year, with one of the companies, RMG, down to two cents a share and seeing the departure of its chair, Michael Stiassny at the start of this month. » read more »
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AFIG selling bonds, not shares
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25 June 2004 12:00amAustralian Mortgage Securities, the funding arm of the Australian Financial Investment Group, has filed a prospectus with the US SEC to sell $1.6 billion in mortgage-backed bonds in a global deal over the next few weeks. The bond pool includes "low doc" loans equal to 10 per cent of the pool. » read more »
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Mortgage Choice plans capital strip
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25 June 2004 12:00amMortgage Choice plans to return virtually all capital and retained profits to existing shareholders ahead of any listing. » read more »
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Feds shelve PC proposals for housing market
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25 June 2004 12:00amBanks and alternative mortgage providers will be both relieved and pleased with the results, and the response to, the Productivity Commission's report into first home ownership. » read more »
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National transaction business underperforms
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23 June 2004 12:00amNational Australia Bank's core transaction infrastructure appears to be underutilised in comparison to the rest of the market either that, or National's relatively well-heeled customers are much smarter at planning their payments; or maybe they make much more use of credit cards. » read more »
