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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May busy for bonds
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20 May 2013 7:13amIssuance activity in the debt capital market continued at a steady pace last week, sufficiently so that May has the second largest monthly issuance volume for the year to date. » read more »
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New Zealand eyes micro-financing
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20 May 2013 7:12amThe New Zealand Government has announced plans to form partnerships with non-governmental organisations and financial institutions to offer micro-finance to low-income families. » read more »
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New Zealand to minimise FATCA costs
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20 May 2013 7:11amNew Zealand Revenue Minister Peter Dunne has announced moves to minimise costs for New Zealand banks wanting to comply with the US Foreign Account Tax Compliance Act (FATCA) laws. » read more »
- Narev may owe staff another gift
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20 May 2013 7:11amCommonwealth Bank chief executive Ian Narev emailed staff last week to tell them they would each be receiving as $250 gift in recognition of that fact that the bank had achieved the top rating in the Roy Morgan Research retail customer satisfaction survey. » read more »
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RBNZ agrees new macro-prudential tool kit
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17 May 2013 7:13amThe Reserve Bank of New Zealand has agreed a memorandum of understanding with Finance Minister Bill English that will give the bank the power to limit low equity mortgages as soon as July. » read more »
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S&P cuts outlook for eight NZ banks
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17 May 2013 7:11amStandard and Poor's has cut the outlook for its ratings on eight small New Zealand banks to negative, saying the ratings were vulnerable to a one or two notch downgrade within the next two years if there was a housing market correction. » read more »
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Ombudsman calls for action against credit repair agencies
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17 May 2013 7:10amThe Credit Ombudsman Service has asked the body drafting a new credit reporting code to include a rule that credit providers and credit reporting bureaus should not deal with the agent of a consumer that is charging a fee for the service. » read more »
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Australia a priority for HSBC
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17 May 2013 7:09amAustralia is one of the 15 "priority markets" for HSBC, says the UK-based banking group. » read more »
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BOQ and Macquarie ABS deals upsized
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17 May 2013 7:09amBuoyant conditions in the residential mortgage-backed securities market have flowed into the asset-backed securities market. Two ABS issues this week, from Macquarie Group and Bank of Queensland, have been upsized.
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Latest Smart ABS deal sends mixed price signals
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17 May 2013 7:08amPricing may have gone up a touch in the asset-backed securities market, if Macquarie Group's latest Smart Trust issue is any guide. » read more »
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Margin loan balances up, but account numbers down
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17 May 2013 7:07amMargin loan balances rose for the first time in six years in the March quarter, although not as much as lenders would have hoped, given the strong conditions in the equity market this year. » read more »
