Latest news (24,989 items)

Banks trapped by New Zealand standard

A divergence in the banking regulatory regimes between New Zealand and Australia may result in Australian banks having some capital "trapped" in their New Zealand subsidiaries from 2006. read more

RBNZ seeks new controls

The rhetoric in Adrian Orr's letter to banks effectively seeks to ground the Reserve Bank of New Zealand's approach to Basel II on the basis of the central bank's traditionally light touch toward the regulation and intervention in banks. read more

Westpac has to incorporate

One feature of the Reserve Bank of New Zealand's more intrusive approach is publication of new guidelines on the transfer and control of banks, which will give the central more of a say about any change of ownership of National Bank of New Zealand which may only be relevant in New Zealand's Commerce Commission allows one of the four big Australian banks to buy NBNZ from Lloyds TSB. read more

CECS clears ACCC hurdle

The Australian Competition and Consumer Commission on Friday granted interim authorisation to the rules that govern the Eftpos and automatic teller machine networks in Australia. read more

St George, Heritage test keep it simple

A first time vendor of mortgage backed bonds such First Mac may have had to rejig the composition of its bond last week in order to alleviate the concerns of some investors, but more familiar names seem to have no trouble pumping mortgage pools into the bond market. read more

NAB turns screws on insurance waivers

National Australia Bank has tightened its lending criteria in the home loan market, making lenders mortgage insurance mandatory for loans with a loan to valuation ratio in excess of 80 per cent. read more

FirstMac refashions debut bond

In a second pointer that those funding the home loan boom, and the related property price bubble, are becoming more cautious, mortgage manager Nationale Limited yesterday restructured the terms of a planned $350 million mortgage-backed bond sale, to reduce the proportion of low documentation loans and to include more seasoned loans. read more

St George picks up pace

As some lenders, or their funders, become gun shy during a boom, others take their place -such as St George Bank. read more

Police & Nurses profit rises

Western Australian based bank Police & Nurses Credit Unions, kept pace with the rapid growth in the home loan market, and now manages more than a $1 billion in home loan assets. read more

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