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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ANZ fishes in mortgage-backed bond market
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21 June 2004 12:00amANZ Bank may be providing more low doc home loans than most other major banks in Australia, if the proportion of this style of loan in a mortgage-backed being marketed by the bank is any indication. » read more »
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Debit and charge take share from credit cards
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18 June 2004 12:00amThe sharp rise in credit card cash advances in March reversed in April, while credit card revolve rates fell, and thus indicating that households have this segment of consumer debt under control. » read more »
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John Kolenda quits Aussie
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18 June 2004 12:00amJohn Kolenda, New South Wales sales manager for Aussie Home Loans, left the company without much notice last Friday. » read more »
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Grahame Petersen takes over strategic development at CBA
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18 June 2004 12:00amAdrian Cosenza, Commonwealth Bank's group executive strategic development, isn't sick, or at least isn't sick any more he's now on six months long service leave. » read more »
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Neumann sees room for improvement at The Rock
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18 June 2004 12:00amMark Neumann, the new chief executive at The Rock Building Society, worked for Gold Coast-based Pioneer Mortgage Services for about a year until early 2003, and not for Pioneer Permanent Building Society. » read more »
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Victoria subsidies Bendigo Bank's urban expansion
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18 June 2004 12:00amBendigo Bank and its shareholders will benefit from an $1 million subsidy from the Victorian government, which will provide seed grants to councils to spend of up to $20,000 each on feasibility studies into the provision of additional banking facilities in urban localities, "restricted by a lack of access to quality local financial services" to quote the government's announcement. » read more »
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Interstar markets largest mortgage bond
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16 June 2004 12:00amInterstar, one of the largest providers of low doc home loans and also the fastest growing lenders in Australia, appears to want to persuade investors in mortgage-backed bonds of the differences in styles of low doc loans. » read more »
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Mark Neumann joins The Rock
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16 June 2004 12:00amThe Rock Building Society yesterday said that it appointed Mark Neumann as chief executive. Neumann replaces Mike Laffoley, who left the bank in February following differences with the board. » read more »
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ASB, BNZ squeeze Westpac on mortgage rates
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16 June 2004 12:00amWestpac may have tried its hand at some price leadership in New Zealand's home loan market at the end of last week, but other big banks won't follow its lead. » read more »
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Reserve takes backward step on debit
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16 June 2004 12:00amThe Reserve Bank of Australia on Friday took a step backwards in its drawn out agenda to reform the interchange fees paid on debit payments. » read more »
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Designation in prospect for ATMs
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16 June 2004 12:00amThe path to designation may be smoother for the Reserve Bank of Australia's concurrent plan to overhaul interchange arrangements in the automatic teller machine segment. » read more »
