294

Price discounting on loans across the industry is chipping away at banks' interest margins, if ANZ's trading update for the December 2013 quarter is any guide. read more

In a foretaste of the sort of arguments that are no doubt about to swamp the Financial System Inquiry, the mutual bank lobby is calling for three tax changes that would work to its benefit and one g.. read more

Asian banks operating in Australia have increased their share of total business credit to almost 7.5 per cent, from around four per cent in 2008. read more

The Reserve Bank of Australia is not accepting any thesis that looser credit conditions are driving the, admittedly patchy, rises in housing prices around Australia. "The upswing in housing asset va.. read more

Bank funding costs "have declined a little relative to the cash rate", the Reserve Bank of Australia says in its latest quarterly Statement on Monetary Policy. read more

Both ANZ and the plaintiffs in the class action over penalty fees are likely to appeal after the Federal Court ruled partly in favour of each party in a piece of landmark litigation delivered yester.. read more

A key feature of the judgement in the ANZ fees class action case is that late payment fees charged more than six years ago may be claimed and are not barred by the statute of limitations. Financial.. read more

ANZ "well knew that the level of exception fees it charged was well above 'cost recovery'," Federal Court judge Justice Michelle Gordon said in concluding the ANZ fees class action case. read more

Other banks defending class actions over penalty fees will want to take notice of the Federal Court's preference for the expert evidence of the plaintiffs' consultant, Paul Regan, of the Californian.. read more

Rising property prices helped to improve the financial metrics for mortgage insurer Genworth in the final quarter of 2013, with the loss ratio halving over the year. read more