The mere facts of Westpac having a derivatives book, the sheer size of this portfolio and the material growth of derivatives at the bank provided scaffolding for ASIC agitation at the opening day of a trial over allegations of unconscionable conduct by the bank in the rates market. read more
Financial institutions / Big five & fintech (1,684 items)
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Briefs: New NZ government cracks down on foreign buyers, Parlevliet joins La Trobe, Carnival's Sherry joins NAB board, and more
New Zealand's new Labour-led coalition government has announced how it will keep its campaign promise of banning non-resident foreigners from buying existing homes. read more
Japan's three biggest banks are expected to cut 33,000 jobs over the next decade as they turn to AI and automation to streamline operations and cut costs. read more
Justice Jayne Jagot may settle the penalties that must be paid by National Australia Bank and ANZ for their misconduct in the bank bill swap market more than six years ago.Westpac, the third defendant in a series of linked cases, will be in the dock as ASIC opens its case this morning. read more
A survey of 2000 Brits carried out by Visa found that 53 per cent of 18 to 34 year olds regularly use banking apps. read more