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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Briefs: NAB may spin off UK businesses, Keybridge is PR Finance Group's only bidder, ASIC focuses on sub-brands
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18 June 2013 7:04amNAB chief executive Cameron Clyne will be watching UK Government bank assets sales closely; Keybridge Capital is PR Finance Group's only bidder; ASIC focuses on bank sub-brand advertising's integrity. » read more »
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Appointments: ING Direct's local CIO off to group HQ
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18 June 2013 6:59am
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ANZ and Macquarie sanctioned for Singapore rate scam
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17 June 2013 7:17amANZ and Macquarie Bank will have to hold extra reserves with the central bank of up to US$300 million (A$250 million) after an investigation by the Monetary Authority of Singapore found the two Australian banks were linked to "attempts to inappropriately influence [interest rate] benchmarks."
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- Vulnerable households on the rise
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17 June 2013 7:17amThe proportion of households that are heavily indebted grew over the period from 2002 to 2010, increasing their vulnerability, and hence that of the broader economy, to an economic downturn. » read more »
- Technocash closes money moving business
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17 June 2013 7:16amBanks have choked funds transfer business Technocash, which said on Friday that it was "closing its money moving business." » read more »
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Deutsche in capital ratio row
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17 June 2013 7:14amA debate over the utility of conventional "Basel"-based measures of capital has flared, after a leading US banking regulator called Deutsche Bank's capital levels "horrible". » read more »
- Cards overtaking cash
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17 June 2013 7:13amCard scheme operators believe Australian consumers have passed an important milestone in the transition from the use of cash to cards. » read more »
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Structured debt volume set to ease
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17 June 2013 7:13amWhile financial market ructions have brought corporate bond issuance to a standstill in recent weeks, there has been a steady flow of structured finance deals. » read more »
- Briefs: Provident directors still under scrutiny
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17 June 2013 7:12am
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Sharp rise in households with negative equity
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14 June 2013 6:52amThe number of Australian households with mortgage debt that exceeds the value of their home has risen substantially over the past decade. » read more »
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Suncorp gets the bad debt monkey off its back
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14 June 2013 6:49amSuncorp will take another six to 12 months to complete the run-off of loans in its non-core banking portfolio, following the sale of A$1.6 billion of the portfolio to Goldman Sachs Group. » read more »
