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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RBNZ details LVR speed limits
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06 June 2013 7:02amThe Reserve Bank of New Zealand has issued a fresh consultation paper with even sharper view on "speed limits" for high loan-to-valuation ratio mortgage lending. » read more »
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Australia no leader on liquidity
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06 June 2013 7:00amIt is a fallacy to portray the timetable for liquidity rules' reform for banks in Australia as being ahead of the world, John Laker, chair of the Australian Prudential Regulation Authority, argued at a Senate committee hearing on Wednesday. » read more »
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bankmecu merges with Fitzroy and Carlton Credit Co-op
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06 June 2013 7:00ambankmecu will maintain Fitzroy and Carlton Community Credit Co-operative's focus on providing finance to low-income earners and the financially excluded when the two organisations merge next week.
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Mt.Gox shy of Technocash
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06 June 2013 6:59amSydney funds' transfer company Technocash has found one of its key counter-parties is wary of continued dealings it less than a week after US authorities listed some Technocash bank accounts in a list of "forfeitable property" linked to seven men charged in connection with money-laundering claims. » read more »
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CCMC calls for higher standards in dealing with guarantors
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06 June 2013 6:58amBanks are meeting their obligation to help prospective loan guarantors make informed decisions, but they could be doing more to achieve the level of "good industry practice", an independent review has found. » read more »
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Heartland cuts ties with Kerr
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06 June 2013 6:57amHeartland New Zealand has announced a NZ$18 million write-down of bad real estate loans inherited from when it was formed in 2011. » read more »
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Briefs: CUA launches RMBS issue, no change to credit card interest rates
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06 June 2013 6:57amCUA launches RMBS issue; no change to credit card interest rates despite lower cash rate.
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Business is booming for AFG
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05 June 2013 6:46amMortgage aggregator AFG reported very strong borrowing activity in May 2013, the second month in a row when its brokers have written a record number of loans. » read more »
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Phone banking proves resilient
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05 June 2013 6:45amPhone banking is showing some endurance as a banking channel, data compiled by Roy Morgan Research shows. » read more »
- Banks address their poor performance in dealing with hardship
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05 June 2013 6:45amThe banks have been under pressure for some time to do more for customers in financial hardship. The Australian Bankers Association responded yesterday with a package of measures outlining how best to do this.
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- Community bank yield nine per cent
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05 June 2013 6:44amBendigo and Adelaide Bank said it paid out A$1.1 billion to owner of franchised Community Bank since developing the business model 15 years ago. » read more »
