RBA (243 items)

Prosecutions loom for power banks

Prosecutions over misuse of market power seem pending in banking, with drastic options ahead for the ACCC.Macquarie, ANZ, Commonwealth Bank, Westpac and National Australia Bank are five obvious banks on any ACCC shortlist of matters with prospects for convictions.And the fines the ACCC will seek? Whopping.The ACCC's Rod Sims intervention in banking debates on Friday, in tandem with the RBA's Michele Bullock, presents the Council of Financial Regulators antipathy to the banking sector this year in a new light. read more

Seven RBA-linked executives get Securency trial date

Seven former executives of the Reserve Bank of Australia's subsidiary Note Printing Australia and the NPA's half-owned Securency International have a combined trial date, beginning in late January, over conduct related to the foreign marketing and sale of polymer substrate for the production of banknotes.The forthcoming trial will centre on bribery allegations involving officials in Malaysia. read more

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

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