Briefs: CBA to limit funding for housing development, ANZ to launch Panin sale process, CBA not rush 10 August 2015 3:38PM Banking Day staff Briefs, Commonwealth Bank plans to limit sales to new housing developments, according to the Australian Financial Review. The bank will delay the approval of finance for buyers of lots until the land is ready for development and all preliminary work, such as roads, has been completed. The policy will restrict the pre-sale of lots. ANZ will launch a sale process for its 39 per cent stake in Indonesia's Panin Bank this week, according to The Australian. The bank is looking to exit "legacy" holdings in Asian banksand avoid further dilutive equity raisings. The moves comes days after a A$2.5 billion capital raising triggered a bank sell-off on the ASX. Commonwealth Bank chief executive Ian Narev told the Herald Sun the bank was leaving open its options over how to cope with the greater capital requirements on banks. "There are a number of ways we can react if we need more capital. We will react when we need to," Narev said. He added the bank was "not even anywhere near where we would like to be" on productivity. CBA reports its full-year results on Wednesday. Former ANZ executive and prominent New Zealand mortgage broker John Bolton has announced he will launch a peer-to-peer lending service called Squirrel Money offering secured and non-secured loans of up to NZ$70,000 each. Bolton's Squirrel mortgage broking operation is the largest in Auckland and handles over NZ$800 million a year in mortgages. Squirrel Money will launch in September and charge a flat fee of NZ$250 for secured loans and NZ$500 for unsecured loans.