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Briefs: Mortgage arrears above two per cent in WA, ANZ appoints new Taiwan head

Australian mortgage arrears declined in the September quarter, compared with the previous quarter, but were up year-on-year. Standard & Poor's reported that 1.14 per cent of loans underlying prime residential mortgage-backed securities issues were in arrears (with payments overdue by 30 days or more) during the quarter, down from 1.19 per cent in the June quarter. September quarter arrears were 16 basis points higher than during the September quarter last year. The arrears rate was highest in Western Australia, where it reached 2.03 per cent. ANZ has appointed Peter Chan chief executive of its Taiwan operation. Chan is currently ANZ CEO in the Philippines. He joined the bank in 2008 and his roles have included head of institutional banking in Taiwan. He replaces Terry King, who is retiring after a 36-year banking career. King has been appointed a non-executive director of ANZ Taiwan's board.

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