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Moody's see worsening arrears over 2017

Home loans arrears in Western Australia are "the highest since our records began in 2005," Moody's Investors Service said in a gloomy report on Australian residential mortgage-backed securities released yesterday.The proportion of residential mortgages more than 30 days in arrears increased to 1.62 per cent in May 2017, "the highest rate in five years", and up from 1.50 per cent in May 2016, Moody's said - adding that "we expect mortgage delinquencies to continue to increase through the remainder of 2017." read more

Unmet needs one fault for banks

A fresh snapshot on access to and use of many basic financial services gives an unflattering view of the Australian banking sector."Almost one in three adults (31.6 per cent) had no savings," analysis by Centre for Social Impact at the University of New South Wales concluded.  National Australia Bank co-produced the report, which was released on Friday.The "unbanked" ratio, though, is low at 2.7 per cent. read more

Friends and foe rock banking pillar

There may be a dash for the exits from the rowdy sanctums of the Australian Bankers Association, with more than one bank jostling for first mover advantage and the accolades that may come from a select set of stakeholders for doing so.Banks of different stripes are treating a respectful - or in your face - resignation from the ABA as a strategic matter of the utmost importance. read more

CBA panel bring history to APRA inquiry

APRA rolled out a trio of well known scrutineers on Friday to turn risk and culture matters at Commonwealth Bank head over heel via an eight-month inquiry. The Australian Prudential  Regulation Authority said the panel of three would have a budget to engage "other external expertise and advice as its sees fit," so CBA's board and management may find a lot of new faces asking questions and chewing through time. read more

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