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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Diners Club on the wane
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08 May 2013 6:45amDemand for the charge card services of Citibank's Diners Club subsidiary declined in 2012. » read more »
- Large earn-out for Pure Commerce vendors
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08 May 2013 6:44amThe vendors of niche payments processor Pure Commerce can expect to almost double the price paid under an earn-out agreement that was disclosed in the latest quarterly report for the buyer, US payments firm Euronet. » read more »
- Just too easy to get it wrong online
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08 May 2013 6:44amThe surveillance of comparison websites in the financial services sphere by the corporate regulator is bearing fruit, with ASIC forcing changes on the insurance comparison website of JustEzi. » read more »
- Briefs: FlexiGroup raises A$45m, iCash board under threat
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08 May 2013 6:43amFlexiGroup raises A$45 million needed to acquire Once Credit; iCash board directors come under threat as the Sherman Group makes changes.
» read more »
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Little leeway on liquidity reforms
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07 May 2013 7:03amThe bank regulator will make few changes to its earlier draft prudential rules for managing liquidity risk, with the industry being required to adopt the new liquidity coverage ratio from January 2015, and the net stable funding ratio from January 2018. » read more »
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Super deposits remain 'unstable' for liquidity rules
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07 May 2013 7:02amBanks will not be able to treat deposits from self-managed superannuation funds as "stable" under the latest version of the prudential rules on managing liquidity risk. » read more »
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Banks must model demand for RBA backstop
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07 May 2013 7:01amBanks will have to project the extent of their reliance on the planned committed liquidity facility (CLF) with the Reserve Bank of Australia that the industry will use, if necessary, to overcome an assumed shortage of government bonds. » read more »
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FlexiGroup buys Once Credit
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07 May 2013 7:01amStore finance specialist, FlexiGroup, has entered into an arrangement to acquire the consumer finance company, Once Credit. » read more »
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Rams helps Westpac increase deposit share
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07 May 2013 7:00amWestpac's Rams brand has attracted A$1.8 billion in deposits since its launch in May 2012 – A$600 million of that in the six months to March 2013.
» read more »
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Businesses won’t borrow and won’t pay
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07 May 2013 6:59amThe outlook for demand for business credit remains worse than dour, if two periodic surveys, from Dun & Bradstreet and credit insurance broker NCI, are any guide. » read more »
