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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AFMA comfortable with IOSCO's financial benchmark proposals
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24 April 2013 6:45amThe Australian Financial Markets Association says it would have no difficulty operating under the principles outlined in a consultation paper on financial benchmarks issued by the International Organisation of Securities Commissions earlier this month. » read more »
- Mortgage duty remains in NSW
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24 April 2013 6:45amThe New South Wales government is to defer its commitment to abolish mortgage duty, transfer duty on marketable securities and transfer duty on non-real property business assets. » read more »
- Arck claims progress against Yorkshire Bank
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24 April 2013 6:44amThe UK's Financial Ombudsman Service has agreed to review 150 investor complaints against NAB subsidiary Yorkshire Bank for its role as segregated bank account provider for failed property investment company Arck LLP. » read more »
- Briefs: Investec's CEO leaves, Banksia loans sold and more
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24 April 2013 6:43amInvestec's CEO to leave; NAB gets CIO following job title upgrade; and CommSec hires Investment Trends' Eric Blewitt.
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Loss-making Qilu deals with a second fraud
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23 April 2013 6:52amQilu Bank, Commonwealth Bank's delinquent associate in China, has had another blow dealt to its reputation after the arrest of an executive on a charge of helping another manager, from its sister fund company, skim clients’ profits into their own accounts. » read more »
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More companies offer credit terms
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23 April 2013 6:51amThe number of Australian companies offering their customers credit terms has increased sharply over the past year, as has the level of overdue payments. » read more »
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High-end customers least satisfied with their banks
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23 April 2013 6:49amThe big banks have steadily improved their retail customer satisfaction ratings over the past decade, but they have failed to convince one key segment – their high value customers. » read more »
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Heightened concern about internet security does not hold back online spending
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23 April 2013 6:48amOnline shopping is growing in popularity, but this should not be taken to mean that consumers are comfortable about the security aspects of spending money on the internet. Indeed, shoppers are more concerned than previously.
» read more »
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StepUP program a pathway out of financial exclusion
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23 April 2013 6:46amResearch by the Centre for Social Impact found that three-quarters of users of StepUP loans "experienced a positive change in economic and social outcomes after receiving a loan through the not-for-profit program."
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Briefs: No mortgage insurance impact from QBE downgrade, RHG's CEO sells shares, F&P Finance not for sale, Defence Bank rated
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23 April 2013 6:43amNo mortgage insurance impact from QBE's downgrade; RHG's CEO sells third of shares; F&P Finance not for sale; Defence Bank gets credit rating. » read more »
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Appointments: Two new executives for Credit Union SA
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23 April 2013 6:41am
