Australian-owned Bank (494 items)

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Short-dated bonds suit Australian banks

New issuance was seen in the domestic corporate bond market last week from Suncorp-Metway (rated A+ by S&P), GPT (A), Auswide Bank (BBB), the Sydney branch of Mizuho Bank (A) and the Province of British Columbia.Commonwealth Bank added A$250 million to the A$500 million of 16 August 2017 FRNs sold the week before. This follows the A$500 million of 2 August 2017 FRNs sold on July 20, to which the bank added another A$500 million a week later.A trend seems to be developing here which may reflect the regulatory change which has made accessing US money market funds much more difficult. read more

Muted response to banks' ACCC mobile wallet application

The deadline for submissions to the Australian Competition and Consumer Commission from interested parties on the application by a group of banks to bargain collectively with third-party mobile wallet providers has passed with only six submissions filed. read more

Briefs: Suncorp Bank issues covered bonds, Oswals v ANZ back in court, Suncorp's covered bonds, BMWfinance loses traction

Suncorp Bank has competed its second covered bond transaction, issuing A$350 million of ten-year fixed-rate notes at a margin of 135 basis points over the ten-year asset swap. read more

Briefs: Quay and G&C merger cleared, FlexiGroup signs up Flight Centre, Bigstone gets capital injection, and more

Quay Credit Union's proposed merger with G&C Mutual Bank is over the line, after 89 per cent of Quay CU members voted in favour at a meeting last week. G&C Mutual Bank will have a post-merger balance sheet of around A$1.1 billion.  The merger may take effect from 1 September 2016. read more

Bond issuers take time out to mull monetary policy decision

Corporate bond market participants were more focused on the Reserve Bank's decision regarding the cash rate on Tuesday, and digesting the implications of that, than on issuance activity. Issuance activity last week was limited to line tapping by a few constituents of the supranational sovereign and agency sector. read more

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