Briefs: Extra effort on home loans, FX pricing motivates business, Macquarie Investment Management t 18 June 2015 4:01PM Banking Day staff Briefs, Three in four Australian mortgage holders (77 per cent) intend to make extra repayments on their home loan, rather than spending the cash saved by falling interest rates, according to a national survey commissioned by Australia's largest customer-owned lender CUA. Putting extra money into savings was the second most popular option, with more than half of those surveyed saying they were likely or very likely to do so. Only five per cent of those with a home loan were very likely to treat themselves to a holiday, dining out or other hobby, while one in four ruled it out entirely. Three quarters of all business owners nominate 'innovative and easier to use' foreign exchange platform technology as their main motivator for 'multibanking' their business FX wallet, according to new research by East & Partners. In addition, the firm also found that nine out of ten Australian CFOs and treasurers are actively "shopping around" for lower execution costs. One consequence is that the Big Four face difficulty cross selling business FX products into existing transaction banking, trade finance and lending relationships, said East, noting that Western Union has the largest share of primary spot FX relationships with micro businesses and SMEs. ASIC announced yesterday that Macquarie Investment Management is due to refund A$5.5 million to around 2,300 clients affected by system errors that occurred between 2001 and 2014, affecting products using the Macquarie Wrap Platform. ASIC said it had been "working with Macquarie to resolve this matter in the interest of clients." The system errors included failing to apply sufficient tax credits to the GST portion of client fees and charging administration fees which exceeded the maximum disclosed in the product offering documents. Consequently, Macquarie has appointed Deloitte as an independent third party consultant to assess the controls and processes around Macquarie's remediation and compensation arrangements.