Banking, insurance, money-lending, debt-factoring, hire-purchase financing or other financial activities may be excluded from the definition of an innovation company as the Australian government works out which types of business may qualify for the latest tax concession. Treasury yesterday released a consultation paper on tax incentives for early stage investors, a step to implement the innovation policy outlined late last year. Yellow Brick Road, which markets itself as a value for money alternative to greedy banks, has increased its home loan rates. The Adviser reports that the variable rate on YBR's Rate Smasher has been raised from 3.91 per cent to 4.07 per cent. A YBR spokesperson said the rate increase was the result of higher funding costs. Moody's Investors Service has assigned a definitive Aaa long-term rating to the £500 million Series 2016-2 mortgage covered bonds, issued from by ANZ through its Australian issuance programme. Pre-sale notes from Moody's indicate that over-collateralisation in the cover pool is 32.8 per cent, of which ANZ provides 14.9 per cent on a "committed" basis. The minimum over collateralised level that remains consistent with the Aaa rating target is zero per cent.