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).
- Overdue reformation for Church funds
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22 April 2013 6:48amLittle scrutinised deposit-taking entities, many of them run by Churches, will be subject to more restrictions – but no more scrutiny – under proposals released on Friday by the Australian Prudential Regulation Authority. » read more »
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Cash payments fall
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22 April 2013 6:46amContactless payment technology, designed for low-value debit card payments, is making inroads into cash payments, according to new research. » read more »
- NAB finds savings in upper echelon
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22 April 2013 6:46amNational Australia Bank cut some of its senior managers and shifted roles around late last week. » read more »
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Infratil bond highlights NZ differences
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22 April 2013 6:43amThe New Zealand investor in infrastructure and utilities, Infratil Limited (which has no credit ratings), announced its latest bond issue aimed at retail investors last week. It is seeking to raise NZ$25 million but will accept over-subscriptions of up to $75 million. » read more »
- Briefs: AMMB considers big purchases, Mortgage Choice plans unfold and Westpac snares NSW tender
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22 April 2013 6:43amAMMB Holdings, a Malaysian ANZ associate, considers big purchases; Marq Services signs up Suncorp for analytics.
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BOQ still troubled by loan impairments
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19 April 2013 7:01amBank of Queensland's recovery from the loss it suffered in the interim half last year is still on track, although the bank concedes its commercial loan arrears are still too high. » read more »
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NZ introduces consumer finance reforms
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19 April 2013 7:00amNew Zealand's Consumer Affairs Minister, Craig Foss, has announced plans for wide-ranging reforms of New Zealand's consumer credit and repossession laws that banks fear could impose significant extra regulatory costs on the sector.
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SMSFs sold on borrowing
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19 April 2013 6:55amClose to one fifth of self-managed superannuation funds have borrowed to invest in real property, a study of the sector by ASIC suggests. » read more »
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Velocity and Visa launch travel money card
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19 April 2013 6:54amVirgin Australia has followed Qantas into the pre-paid travel card market. Velocity Frequent Flyer, its loyalty program, will issue a travel money card linked to its membership card. » read more »
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OzForex and Travelex team up
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19 April 2013 6:53amForeign exchange provider OzForex has won a contract to build an online international payments platform for Travelex. » read more »
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Briefs: RHG bid withdrawn, new incentives for infrastructure investors
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19 April 2013 6:51amBid for RHG's loan book withdrawn; Treasury offers new incentives for infrastructure investors. » read more »
