Fintech (219 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

ANZ might pull plug on Revolut before ASIC

Pressure is mounting on the Australian Securities and Investments Commission to revoke special regulatory relief it granted to controversial mobile payments provider, Revolut Ltd.The company is planning to launch in Australia this month but its prospects look less certain after a recent wave of negative newspaper reports in London that allege the company last year failed to tell UK regulators about a protracted breakdown in its anti-money laundering systems. read more

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