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Xinja Bank has imposed a cap of A$50,000 on the level of deposits in its Stash account on which it will pay interest. read more

Xinja Bank’s ‘pillar 3’ report for the September 2020 quarter suggests its losses over the quarter burned through most or all of the $10 million capital raised that month. read more

In a financial crisis like no other, liquidity is abundant, excessive even. CUFSS, the mutual ADI backstop, is using the crisis to evolve a broader-based mechanism to bolster small banks shocked by th.. read more

Removing responsible lending obligations from the National Consumer Credit Protection Act is no simple business, and nonsensical as well. read more

Beem It, a little-used alternative to Osko and the New Payments Platform, has been bought by Eftpos. read more

The NPP wholesale transaction cost “continues to decline” and is now below 10 cents. But long-planned add-ons to the NPP are delayed, such as richer message standards and offshore payments. read more

Payments volumes tanked in October, providing a bleak background to the Reserve Bank’s well-telegraphed easing of monetary policy settings yesterday. read more

Unprofitable Xinja lacks basic banking capability. read more

In Banking Day’s opinion the market and the public and the parliament are chronically under-informed with regard to the context and the scale of the apparent carelessness of ASIC’s deputy chair and ch.. read more

Around 35 years ago, Banking Day editor Ian Rogers was the enabler of a fraud on the Commonwealth by a slick new divisional CEO of a large department, an episode with strong parallels to the affair t.. read more