P2P & marketplace lending (64 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

Cornered Australian finance sector faces Hayne salvo

Asking the right questions but rarely answering them, Kenneth Hayne's interim report for his royal commission is a blend of populist scorn for, mixed with a sturdy defence of, a rattled banking industry. read more

ASIC worries collections and lending won’t mix for marketplace lenders

The corporate watchdog has highlighted conflicts of interest in the marketplace lending industry that may need to be managed better.The Australian Securities and Investments Commission on Friday released the results of a select survey of the sector, revealing a market still in the early stages of development. ASIC's aggregate data on lending by the sector may look low, however.ASIC said it was interested in how the industry was handling a range of conflicts, highlighting an odd theme for a business sector that relies on lending money and getting it paid back, with interest. read more

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