Newcastle Permanent Building Society (21 items)

Mutuals rattled amid S&P ratings clutter

Around a dozen mutual banks or credit unions, including one ASX listed bank, find their debt securities ineligible for use in repurchase operations with the Reserve Bank of Australia as of yesterday, thanks to an S&P Global Ratings downgrade that yanked the credit ratings of this group one notch lower.Quick punditry by sell-side analysts on the debt side settled on the smaller, and mostly mutual ADIs as the sub-set of Australian banks whose cost of funds in institutional markets may be most affected by the ratings jolt. read more

CoreLogic dissect the spring selling season

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Correction: Newcastle Permanent Building Society

An article published in Banking Day on Monday, "Toyota Motor Credit well received on debut", reported that last week Newcastle Permanent Building Society added A$110 million to a line of floating-rate notes it opened in March this year. This was not correct. The line NPBS tapped was opened in March 2015, when it sold $50 million of April 2020 FRNs at a margin of 135 basis points. read more

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