Suncorp Group has priced a new A$600 million issue of 10.25 year wholesale subordinated floating rate notes, with a non-call period of 5.25 years. According to Westpac Institutional Bank, one of the joint lead managers for the transaction, the notes priced at 215 basis points over three-month BBSW with a reoffer cash price of 100 per cent (that is, issued at par). The other JLMs are ANZ, Citigroup, Goldman Sachs and NAB. Suncorp is rated A2 by Moody's, A by S&P and A+ by Fitch, respectively. In contrast these sub notes are likely to be rated two notches lower, at BBB+ and A- from S&P and Fitch, respectively. The settlement date will be 5 September 2018. Heritage Bank will slash most transaction fees on its savings and transaction accounts, starting this weekend. A spokesman said internal research highlighted the bank's fees as the most irritating aspect to customers. The current limits on fee-free transactions will disappear from savings and transaction accounts. This will apply to common transactions including EFTPOS, counter cash withdrawals, transfers and BPAY, Heritage ATM withdrawals, transfers and balances, and cheque deposits. The bank said via a media release that the "complicated nature of the old fee structure made it fairly difficult to understand."  The new structure moves from nine pages to a single list of products and fees. Two days after saying it was in negotiation with one of the Big Four banks for a A$300 million credit facility to enable it to expand its loan business, Yellow Brick Road told the ASX the negotiations had fallen through. Business News Australia reports YBR is now on the look-out for another major bank or financier to negotiate a new warehouse facility with as it works towards its goal of a securitisation programme. YBR also released its results for FY18, which saw a loss of A$0.7 million - which it blamed on "headwinds" due to regulatory changes and the Hayne royal commission. However, revenue increased by 4 per cent to $230.7 million and EBITDA increased from $0.1 million in FY17 to $1.8 million. New federal Treasurer Josh Frydenberg has demanded Westpac justify its 14 basis point out-of-cycle interest rate increase for all mortgage borrowers, leading markets to speculate that the rest of the big four will eventually follow with their own repricing, the AFR reports. Westpac's subsidiaries Bank of Melbourne, BankSA, St George Bank and RAMS will match the repricing increase. The full bench of the Federal Court has transferred four AMP class actions run by Maurice Blackburn, Slater and Gordon, Phi Finney McDonald and Shine Lawyers in the Federal Court to the NSW Supreme Court. Unless the class action firms file a special leave application to the High Court, the four firms and Quinn Emanuel are now likely to compete in a so-called "beauty parade" before the NSW Supreme Court that will decide which class action firm and funder will run the action, the