Mortgage insurer Genworth has completed its capital reduction, returning A$202.4 million of capital to shareholders, but it has not resolved its negotiations with the Australian Taxation Office over the tax treatment of the capital management initiative. Last month the ATO informed the company, in an informal communication, that its preliminary view was that some or all of the proposed capital reduction would be treated as an unfranked dividend, making it taxable. When Genworth announced the capital reduction in March it said it was seeking an ATO ruling that no part of the proceeds to Australian residents would be a dividend. Yesterday that company said that while the matter remained unresolved payments to investors would be treated as unfranked dividends. Rabobank has appointed Peter Knoblanche as chief executive for Rabobank Australia and managing director for the Rabobank Australia & New Zealand. He replaces Thos Gieskes from July. Knoblanche has been deputy CEO since August 2015 and headed Rabobank's Australian rural banking operations for the past ten years. Consumer lender Money3 has secured a A$20 million debt facility to fund its secured automotive loan book. The company has $139 million of auto loans on its books and $49 million of unsecured personal loans. Money3 was one of number of small lenders that Westpac dumped last year after it decided it was not good for its image to be funding small lenders providing unsecured personal loans and payday loans.