ANZ has upgraded its goMoney mobile banking application to allow small business owners to make payments through their business account. Small business owners will be offered a service that integrates their business banking, personal banking and ANZ Smart Choice Superannuation accounts State Custodians Mortgage Company has cut the variable rate on its Peak Performance Home loan by 25 basis points. The new rate is 4.99 per cent. However, the discounted rate is only available to new borrowers. Lenders that have cut their variable rates (for all customers) include MyState Financial, IMB Building Society, BMC Mortgage and Holiday Coast Credit union. Westpac says it has bought back A$30 million in government guaranteed medium-term notes that mature in March 2014. The bank said $547 million in guaranteed term-debt remains in this line. The 10-year overhaul of National Australia Bank's technology is reviewed in a long read on IT News. Highlights include a projection by the bank that it will take another five to seven years to migrate the data from its entire legacy core banking systems on to the NextGen platform, which is four or five years later than was originally anticipated. The Australian Financial Review reports that the Australian Prudential Regulation Authority is unlikely to follow its international peers and allow asset-backed securities to be eligible as Basel III liquidity. The AFR said APRA chairman John Laker told a Senate committee last week that assets needed to have proven liquidity during a crisis to qualify. Laker said: "The discretion to add additional assets is qualified by the fact that these assets must have a proven record of a reliable source of liquidity in markets even during stressed market conditions."