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).
- Credit growth still weak
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03 June 2013 7:16amHousing and business finance activity maintained its weak growth rate in April. The latest official figures show private sector credit growth increasing at around three per cent a year. » read more »
- Auckland too hot for TSB
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03 June 2013 7:15amTaranaki-based TSB Bank has effectively pulled out of New Zealand's fastest-growing and largest mortgage lending market, saying it can't compete with the four major Australian-owned banks and their ability to source cheap funds offshore. » read more »
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NAB issues first renminbi term funding
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03 June 2013 7:15amNational Australia Bank priced its first renminbi term funding on Friday. The bank issued RMB400 million of two-year senior unsecured notes. » read more »
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Banks persist with expensive covered bonds
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03 June 2013 7:14amAfter an initial burst of covered bond issuance in the domestic market between January and March last year, the major banks have not returned, but they have persisted with covered bond issuance in international markets. » read more »
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Genesis first to pull hybrid
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03 June 2013 7:13amGenesis Energy has become the first Australasian company to announce a restructure of its hybrid securities, following changes made by Standard & Poor's to its criteria for granting equity credit to such instruments in early April. » read more »
- Briefs: Symond payday, inquiry panel members named and ANZ loses data
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03 June 2013 7:12amCommonwealth Financial Planning fraud detailed; HSBC may sell its 99 per cent stake in PT Bank Ekonomi stake; NAB supports staff suffering domestic violence; S&P's insurance ratings' criteria stays; and more.
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Technocash faces costs of money laundering
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31 May 2013 7:18amFunds' transfer company Technocash voluntarily froze bank accounts connected to the internet currency Bitcoin in the recent past because of allegations of money laundering. » read more »
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NAB issues 12-year covered bond
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31 May 2013 7:18amNational Australia Bank issued €750 million of covered bonds yesterday – its fifth transaction since the covered bond market opened in Australia last year.
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Data breach reporting to be mandatory
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31 May 2013 7:17amThe federal government has introduced legislation to make the reporting of data breaches mandatory, following complaints that businesses were not reporting breaches to affected customers. » read more »
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BankVic is Australia's newest mutual bank
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31 May 2013 7:17amAustralia's ninth mutual bank opens its doors for business on Monday. The new mutual bank is BankVic, formerly Police Credit. » read more »
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Banking innovation held up by regulation
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31 May 2013 7:16amAustralia's regulatory environment is holding back payment innovation, and until the advent of real-time settlement, in 2016, innovation in this area will be limited, delegates at the CeBIT conference in Sydney were warned. » read more »
