Banking and Finance News from Banking Day

Current jobs in banking and finance: 02 September 2010 6:31am

South Canterbury falls victim to mismanagement: 01 September 2010 7:37am

South Canterbury Finance, New Zealand’s largest finance company deemed too-big-to-fail finally collapsed, but not before the government stepped in with a disguised bail-out to ensure minimal disruption to the wider economy. » read more »

A financial fiasco made in New Zealand: 01 September 2010 7:35am

The wholesale help from New Zealand's government for the failed carcass of South Canterbury Finance will, all must hope, prove some sort of end point to a wholly home-grown financial crisis. » read more »

Non-guaranteed deposits now covered: 01 September 2010 7:34am

The New Zealand government eased its guarantee rules for all guaranteed finance companies and non-guaranteed deposits will also henceforth be covered by the guarantee. » read more »

Commonwealth improves SVR discount: 01 September 2010 7:33am

Commonwealth Bank has increased the standard variable rate discount from 0.6 to 0.7 per cent on home loans amounts between $500,000 and $750,000. The change, which took effect on Monday is available until the end of October and applies to new money home loan applications. » read more »

rediATM network is big enough: 01 September 2010 7:32am

The rediATM network gets bigger today by 350 machines and 330,000 cardholders with Bank of Queensland joining. » read more »

ATMs are a loss-making business: 01 September 2010 7:30am

Politicians calling for cost-based foreign ATM fees fail to understand the business, said Craig Kennedy, managing director CUSCAL, the administrator of rediATM, the second largest ADI-owned ATM network in Australia. » read more »

Business lending still on the slide: 01 September 2010 7:30am

Business lending may be in decline but one lender to business is keen to highlight that its market share is on the rise. National Australia Bank, in an email from corporate affairs yesterday, pointed out that the bank's business lending market share in June was 20.8 per cent, rising in July to 21 per cent. » read more »

August a big month for bond issuers: 01 September 2010 7:19am

August was the second largest month of the year, with over $11 billion of bonds sold over the period. March digested a hefty A$16 billion, according to a Reuters report. » read more »

RBA’s Debelle: restrain leverage: 01 September 2010 7:18am

Reserve Bank of Australia assistant governor Guy Debelle’s speech on risk and uncertainty yesterday confirms two themes of recent RBA statements. » read more »

NAB keeps merchants waiting: 01 September 2010 7:15am

National Australia Bank yesterday left merchant customers struggling to reconcile Sunday and Monday payments. » read more »

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