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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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 »
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Briefs: Suncorp launches RMBS, Mortgage Choice in partnership with Allianz, local banks preferred to investment banks
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07 May 2013 6:58am
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Appointments: ANZ picks new head of private banking
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07 May 2013 6:55am
- Bank of Sydney in business
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06 May 2013 6:57amBeirut Hellenic Bank – the former Laiki Bank Australia – aims to cultivate a wider target market with a change of name. The bank will trade as Bank of Sydney from today. » read more »
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Kelly promises more productivity gains
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06 May 2013 6:56amWestpac overcame a period of weak income growth in the six months to Match by cutting costs and reducing impairment charges. In a result similar to ANZ's, Westpac's bottom line performance is also related to tighter discipline rather than growth.
» read more »
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Westpac managing like its 2006
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06 May 2013 6:56amThe shareholder-friendly consequences of the pricing power of dominant banks was on display in Westpac's half-year profit, released on Friday, with the bank opting for a special dividend that will lift its payout ratio to an effective rate of 84 per cent. » read more »
- WIB under pressure
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06 May 2013 6:54amAn increased appetite for corporate lending from reinvigorated banks in the northern hemisphere may put a brake on returns for wholesale banks in Australia. » read more »
