Foreign Subsidiary Bank (107 items)

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Debelle demands action on rates swap

Any new securities that persist with BBSW as the interest rate benchmark "must have robust fall-back provisions" in order to be eligible for use in repo dealings with the Reserve Bank, Guy Debelle said yesterday.Or just use the cash rate, which will be the alternative anyway, an option the market is taking up super slowly. read more

Many to follow ANZ and Westpac on rates

There has been no ANZ style bollocking for ING over a 17 basis points cut to its home loan rate. Twenty-five is the norm and bad banks know it.It’s just that some lenders can’t cope with this, think credit unions. Westpac and ANZ have exposed the fragility in their businesses and anxiety over profits via their pricing decisions yesterday. read more

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