CBA (578 items)

S&P doubts resolve over bank rescues

There is still "no clear framework for loss absorption" during a wind-up or resolution of a failing bank, S&P says. Though APRA have said there will be no statutory bail-in power at all, this is a message lost on one fragment of the banking news media and far-right CEC activists.The actual risk for depositors is the credit ratings of the four major banks are soon downgraded to A-, down from AA- now, a risk averted only if ‘too big to fail’ is still a thing. read more

Samuel recoils at 'girls' club' around banks and business

The Financial Review has the story on an alleged “girls' club” obstructing the careers of younger women in finance this morning, and it’s a corker. Graeme Samuel, the former ACCC boss and himself a leading product of an equally unsatisfactory “men’s club”, is the iconic name throwing this commentary around.Samuel’s remarks at an AFR summit in Sydney yesterday denigrating networked, high level, experienced women (many of whom are making an imprint in the challenging and male dominated arena of banking, especially on bank boards) look sexist.Commonwealth Bank and Suncorp are the best examples to begin to analyse his claims, for which he advanced slender evidence.Half of CBA’s ten directors are women, an industry first (for big banks), a milestone achieved at the beginning of the year. At Suncorp, four out of nine directors are women and Christine McLoughlin, the new Suncorp chair, is an ardent advocate of affirmative action. read more

CommBank AML blues widen

ASIC is looking at whether CBA's most senior staff met their obligations of "care and diligence" in relation to systemic breakdowns in the bank's AML controls between 2012 and 2017.The regulator is looking for evidence to mount a civil case against at least five CBA directors. The investigation includes whether the bank allocated sufficient resources to fix the problems between 2015 and 2017. read more

Carnell rebukes Bligh over Banking Code

The ABA has “not yet reached a view” on changing the definition of small business.The Hayne royal commission recommended that the definition of small business in the industry code of practice be amended to cover any business employing fewer than 100 full-time equivalent employees, where the loan applied for is less than A$5 million. read more

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