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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Advertisement: Cards & Payments Australasia 2013
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14 May 2013 6:58am
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ASIC tells lenders to use their discretion with hardship applications
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14 May 2013 6:57amASIC has told lenders it expects them to be flexible with borrowers applying for hardship relief. » read more »
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Real-time project tests resources
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14 May 2013 6:56amBanks using the proposed real-time payments system will have to provide extensive support for the system to achieve the 100 per cent uptime experienced by the Faster Payments system in the UK.
» read more »
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Advertisement: Finsia Financial Services Conference 2013
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18 September 2013 at the Four Seasons Hotel, Sydney. Hear insights, ideas, discussion and debate from industry leaders. » read more »
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Briefs: BOQ launches ABS, gift for CBA staff
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14 May 2013 6:55amBank of Queensland seeks A$500 million through an issue of asset-backed securities; Commonwealth Bank is rewarding staff in recognition of its high customer satisfaction rating.
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Appointments: Corfield takes over at Aussie
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14 May 2013 6:52am
- CLS Bank prevails over NAB in patent appeal
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13 May 2013 6:37amNational Australia Bank has lost its most recent court battle in a long-running effort by the bank to earn a return on a speculative 18-year-old investment in a technology company. » read more »
- More share margin benefit
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13 May 2013 6:35amFurther reductions in bank funding costs are becoming apparent, mainly in the wholesale market, with the benefits flowing through to bank borrowers and bank owners. » read more »
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Bank funding costs continue to fall
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13 May 2013 6:30amThe RBA's decision to cut the cash rate by 25 basis points last week, to 2.75 per cent, may have been the catalyst for a rush of bank and corporate bond issuance from Wednesday on that highlights the trend towards lower wholesale funding costs for banks. » read more »
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Strong RMBS market conditions continue
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13 May 2013 6:29amInvestor demand for mortgage-backed securities remains strong, despite the high volume of issuance so far this year. On Friday, Suncorp Bank upsized its latest RMBS issues and priced the top tranche at less than 100 basis points over the swap rate. » read more »
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Seiza RMBS default projected
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13 May 2013 6:28amA small pool of loans serviced by Pepper Homeloans is headed for a default, a rare event in the mortgage-backed market in Australia. » read more »
