01 August 2012 7:13am

Spanish bank Banco Santander is scaling back its Australian operation, according to the report in The Australian Financial Review. The bank's local chief executive, Jose Blanco, left the bank yesterday. There is no comment in the report from Banco Santander, which obtained a branch banking licence in Australia a year ago.

Commonwealth Bank has launched a A$750 million issue of residential mortgage-backed securities. Medallion Trust Series 2012-1 is a pool of...