More fees class actions ready to roll 06 December 2011 5:58PM More banks can expect class action proceedings over penalty fees to begin by the end of 2011 - more than a year after a test case was first initiated against ANZ. read more
First ruling on fees class action 05 December 2011 5:58PM The Federal Court of Australia will rule today on the first stage of a class action brought by 34,000 claimants against ANZ over its penalty fees. read more
Clouds over MyATM 05 December 2011 5:56PM ATM operator MyATM is expected to update the ASX on its financial position by tomorrow, after requesting a trading halt in its shares on Friday, pending an announcement "concerning the ongoing opera.. read more
Secured funding bias entrenched 05 December 2011 5:48PM A bias toward secured funding such as covered bonds will persist through 2012 for many of the world's banks, as managers and authorities deal with the twin challenges of sovereign and bank solvency.. read more
S&P downgrades Big Four one notch 02 December 2011 5:51PM Standard & Poor's last night cut the long-term credit ratings of Australia's four major banks by one notch to AA- from AA. The downgrading was expected and in line with the review of country rat.. read more
NAB works with thin ratings buffer 02 December 2011 5:48PM The revised long-term credit rating for National Australia Bank of AA- may reveal it to be the most vulnerable of its domestic peer group, with Standard & Poor's citing its exposure to the stres.. read more
Moody's sanguine on Australian banks 02 December 2011 5:46PM Moody's has provided an alternative assessment on the credit quality of Australian banks, and reiterated its view that "the outlook for Australia's banking system remains stable." read more
Macquarie Bank's rating rests on public prop 02 December 2011 5:45PM The A- credit rating for Macquarie Bank derives from the prospect of public sector intervention to assist the bank in any future period of difficulty, ratings agency Standard & Poor's makes clea.. read more
EzeATM follows consolidation dream 02 December 2011 5:42PM EzeATM will buy the Australian automatic teller machine fleet of iCash Payments. EzeATM agreed to pay A$16 million for a business that three months ago the seller wrote down to a carrying value of.. read more
Non-conforming works for RedZed 02 December 2011 5:40PM Investor funds are flowing into non-conforming lending, with RedZed Lending Solutions completing a placement of A$80 million in mortgage-backed securities with a small group of investors. read more