- FirstMac back in bond market
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07 September 2010 6:50amFirstMac yesterday sold its second series of mortgage-backed securities for the year, and one supported by the Australian Office of Financial Management. » read more »
- Mortgage Choice opts for white-label loan
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07 September 2010 6:43amMortgage Choice will soon market home loans under a new brand created by the firm and funded by a major bank, the CEO, Michael Russell, told the Financial Review. » read more »
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Canterbury quake a financial shock
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06 September 2010 6:48amThe early estimate on the damages bill arising from Saturday’s force 7.1 earthquake centred to the west of Christchurch is around NZ$2 billion. New Zealand’s Treasury is the source of this estimate, though costlier estimates are also in circulation. » read more »
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Major bank insurance exposures minimal
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06 September 2010 6:42amExposure to costs associated with the Canterbury earthquake may be very limited for the four major banks in New Zealand as third parties underwrite most of their business and general insurance products. » read more »
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Some help from banks
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06 September 2010 6:41amMajor banks in New Zealand announced assistance packages for customers in the Canterbury region. Details differed but included: a deferral of interest for three months, waiver of early withdrawal costs for term deposits; a waiver of fees on new loans; and a notional willingness to lend more money to local businesses, as long as the customer meets normal credit criteria. » read more »
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Future Fund likes leveraged finance
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06 September 2010 6:39amThe Future Fund is among investors in Haymarket Financial, a recently formed specialist financier in Europe that provides leveraged finance to mid-sized corporates. » read more »
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GFC thwarts retailers’ financial services ambitions
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03 September 2010 6:45amOne outcome of the financial crisis that has not received much attention is the impact it will have on the ambitions of big retailers and telecommunications companies to get into the financial services market. Those ambitions have been dealt a heavy blow, according to a senior banker. » read more »
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Dispute resolution teething troubles
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03 September 2010 6:45amThe dispute resolution arrangements in the National Credit Act are causing concern, with some credit providers saying the protocols that govern the way complaints are handled are skewed to give too much control to the external dispute resolution schemes. » read more »
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ASB close to selling Aegis
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03 September 2010 6:44amASB Bank is in advanced talks with Pyne Gould Corp to sell its subsidiary, Aegis, a provider of portfolio administration and reporting services. » read more »
- GRGI a third ASX ATM play
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03 September 2010 6:44amA vision of a cashed, rather than a cashless, society continues to inform the plans of niche providers to the banking sector. One start-up seeking capital from an ASX listing is an aspiring deployer of automatic teller machines, GRG International. » read more »
- Second stab at listing for My ATM
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03 September 2010 6:44amMy ATM last Friday issued a replacement prospectus and will push ahead with plans to sell at least $4 million, and as much as $10 million, in new shares for a 21 per cent stake in the company. The company also plans to list on the ASX. » read more »
