Macquarie Bank closed its offer of Macquarie Bank Capital Notes hybrids yesterday, raising A$429 million after setting a target of $400 million at launch. Macquarie will pay a margin of 330 basis points over the 180-day bank bill rate. The securities will commence trading on the Australian Securities Exchange today (Thursday 9 October). Earlier this year, PayPal commissioned the Economist Intelligence Unit to evaluate the ability of the leading economies to develop internet-enabled cross-border trade. The EIU found that Australia ranked top in the e-Trade Readiness Index based on strengths across all five categories measured, particularly in the internet and e-payments environments. PayPal, clearly talking its own book in a new white paper, noted in this context that, in less than four years exports are expected to more than triple to A$16 billion, meaning that by 2018, cross-border sales will match current domestic online sales in value. Under pressure from ASIC, the Commonwealth Bank has agreed to release A$2.2 million to around 45,000 customers who had money left on expired CBA Travel Money Cards. The bank has also made changes to all its Travel Money Cards so consumers will not forfeit any funds left on expired cards. Instead, any expired funds will be held by the CBA for three years, then treated as unclaimed money that consumers can retrieve any time in the future. ASIC said it is reviewing 13 products from nine travel card issuers as part of broader work on unfair financial contracts. Introducing its fifth annual list of risk-adjusted capital ratios for the world's top 100 rated banks, Standard & Poor's Ratings Services said capital and earnings was a rating strength for only eight banks, a weakness for 38 banks, and neutral for 54 banks. S&P's combined analysis of capital and earnings and risk position showed rating strengths for 20 of these banks but weaknesses for 42 of them. A mixed picture emerged when comparing various regions. Capital was either neutral or negative for the 30 banks in Asia-Pacific and 43 banks in Western Europe, neutral for the 15 banks in North America, and weak for the three banks in Brazil. Australia's Big Four were all ranked in the 40s, well down the list. Bank of Queensland, due to report its annual profits later today, has given a hint of things to come, with a pilot project that makes its branches look more like cafes than the traditional bank look associated with BoQ. The change has seen sales doubled at two branches in the last three months and has proven such a success the bank is planning to extend it. These retail outlets are already exceeding the expected growth targets for deposits, loan applications and credit card sales, the bank told the AFR. Last month, ratings agency Moody's Investors Service outlined proposals to change its bank rating methodology. The agency has now explained that it will consider the risk of bank performance in rating securitisations globally, and in structured transactions as "different regulatory