Authorised deposit-taking institutions (400 items)

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Richer mortgage data a stress for select ADIs

"Uuhmmm, we're not too sure that we, or some other banks we know well, will be able to easily find the most reliable data on that", a handful of banks have more or less told the banking regulator, when advised they and the sector must prepare to report in a more detailed fashion on mortgage lending metrics. read more

Mutuals rattled amid S&P ratings clutter

Around a dozen mutual banks or credit unions, including one ASX listed bank, find their debt securities ineligible for use in repurchase operations with the Reserve Bank of Australia as of yesterday, thanks to an S&P Global Ratings downgrade that yanked the credit ratings of this group one notch lower.Quick punditry by sell-side analysts on the debt side settled on the smaller, and mostly mutual ADIs as the sub-set of Australian banks whose cost of funds in institutional markets may be most affected by the ratings jolt. read more

Maestros evade S&P ratings razor

Navigating fraught terrain, S&P Global Ratings yesterday spared all the major banks and six lesser Australian banking names from its epic ratings downgrade that embraces 23 entities, most ADIs and a handful of non-banks. S&P's sparing of the major banks is one conundrum for a banking sector under ever closer scrutiny.As recently as seven or eight weeks ago, S&P planned to feature all four of Australia's major banks in the near sector-wide reset one notch lower of rated Australian banks. S&P sets out the macro risk in Australia plainly, saying the country's banking sector faces "an increased risk of a sharp correction in property prices and, if that were to occur, a significant rise in credit losses." read more

NAB and Westpac correct advice on strife

A drastic pair of corrections from past disclosures - from NAB, mainly, and also Westpac - features in an update from ASIC on Friday on the state of play (and the compensation costs) from "fees for no advice" in the industry.AMP, ANZ, Commonwealth Bank, National Australia Bank and Westpac "have so far repaid more than A$60 million of an expected $200 million-plus total in refunds and interest for failing to provide general or personal financial advice to customers while charging them ongoing advice fees," the Australian Securities and Investments Commission said on Friday. read more

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