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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Eftpos costs advantage narrows
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16 April 2004 12:00am
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NAB instigated merchant payment
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16 April 2004 12:00amOne piece of history explained by David Howell is the origins of the now contentious agreement between Coles Myer and National Australia Bank one roughly copied between all big merchants and their banks in which the acquiring bank hands over most or all of the interchange payment collected from the issuing bank to the merchant. » read more »
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Debit cards gaining share over credit cards
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16 April 2004 12:00am
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PwC watered down self-criticism in NAB forex report
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16 April 2004 12:00amThe National Australia Bank board brawl is getting tedious and remains avoidable; the seven non executive directors can still all just quit. » read more »
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Banks foreshadow positive interchange
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15 April 2004 12:00amThe banks that are hoping to collectively set Eftpos interchange at zero were fortunate the Reserve Bank of Australia and the Australian Competition and Consumer Commission were around to prop up their case on the opening day of the hearing by the Australian Competition Tribunal into Eftpos yesterday. » read more »
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No new evidence on Eftpos costs
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15 April 2004 12:00amRegrettably, the banks' application to collectively set interchange, and to set the interchange rate at zero for three years, has reached the Australian Competition Tribunal without any better or more recent data that the tribunal could use to help reach its decision. » read more »
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Cash out drives Eftpos at Coles
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15 April 2004 12:00amThe hearing looks like a disappointment for anyone looking for deeper insights into the numbers behind the Eftpos network in Australia. » read more »
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Least conflicted auditor will win NAB audit
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15 April 2004 12:00am
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Reserve wants further fall in housing lending
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15 April 2004 12:00amThe Reserve Bank of Australia may be looking for further reductions in the volume of housing lending, though the central bank appears pleased with gathering evidence that the housing credit bubble, and related property price boom, has passed its peal. » read more »
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Queensland chases Adelaide in mortgage market
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08 April 2004 12:00amBank of Queensland adopted a silly slogan for the purpose of investor briefings a year or so ago: the bank declared it wanted to be "a big small bank, not a small big bank". » read more »
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Capital raisings and acquisitions depress Bank of Queensland profit
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08 April 2004 12:00amAt a glance, Bank of Queensland's profit and asset growth looks exceptional; except that when taking into account the expanded capital base, the bank's return dipped slightly in the latest half. » read more »
