Briefs: MoneyMe’s IPO , RBA ok going low

Banking Day staff Briefs
  • MoneyMe Financial Group is previewing an IPO with fund managers, the AFR reports in its Street Talk column. There is no mention of valuation in the report, though “fundies were told MoneyMe intended to raise $40 million to $50 million for its IPO in coming months.” It has A$88 million in receivables and advanced $330 million over six years in business. Its loss rate exceeds 3 per cent, a chart published by the AFR shows.
  • The Reserve Bank of Australia “still has scope for conventional policy easing, should it be required,” the RBA reiterated in written responses to questions from the Standing Committee on Economics, and published yesterday. “While unlikely at the current juncture, if circumstances were to warrant it, the board would consider unconventional monetary policy options.” The RBA summarised its options in orthodox fashion: “This would involve reducing the cash rate to a very low level and possibly purchasing government securities to lower the risk-free rate further out along the term spectrum.”