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).
- Non-core sale plans develop at Suncorp
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20 May 2013 7:18amSuncorp is examining ways to sell off its non-core bank, the Financial Review reported. » read more »
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Keybridge will leave PR Finance team in place
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20 May 2013 7:17amKeybridge Capital, an activist debt investor is to press on with its bid to take control of sub-prime lender PR Finance Group. » read more »
- Endowment bond provider offers long-term deposit opportunity
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20 May 2013 7:16amA new provider of retirement income products is using zero-coupon bonds sourced from banks and semi-government issuers to provide investors with long-term income streams. » read more »
- Analysis: Newpin social benefit bonds only for wholesale investors
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20 May 2013 7:15amNSW Treasurer Mike Baird has announced the launch of the first social benefit bonds, the Newpin SBB. The Newpin SBBs are being offered by Social Ventures Australia and could yield up to 15 per cent while helping to reunite children in care with their families.
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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 »
