The Rock Building Society said in a statement yesterday that it had reached an agreement with Brisbane-based mortgage manager FirstMac to "distribute and service a range of financial products". The Rock did not spell out the terms in any detail. FirstMac owns 12.7 per cent of The Rock, although this will be diluted to a much smaller stake with the planned takeover of the building society by the Tasmanian-based MyState Financial. Lloyds has sold £1.03 billion (A$1.64 billion) of its distressed property loans in Australia and New Zealand. Goldman Sachs, in partnership with asset manager Brookfield, will buy a £600 million (A$954 million) New Zealand portfolio, while Morgan Stanley will buy a £430 million (A$684 million) Gold Coast office, retail and apartment portfolio. Lloyds is expected to take a loss of about 50 per cent of the original value of the debt, the UK Financial Times newspaper reports. ANZ will sell Cambodian mobile payments company WING to Inter Logisitics for an undisclosed sum, the Australian Financial Review reports. ANZ's head for south ad south-east Asia, Mark Robinson, was quoted as saying the deal would help ANZ focus on the corporate and upper-end retail segments. Investors are paying record sums to protect against the risk that Bank of America will default on its loans, the Financial Times reports. The rising price of credit default swaps on BofA debt reflects growing fears over US banks' exposure to the eurozone debt crisis, the newspaper said. Credit default swaps on BofA were reported as rising to a high of 495 basis points. This is above the previous 456 bps peak on October 4. The European Central Bank is considering plans to support eurozone banks with loans of up to three years' duration, the Financial Times reports. High prices have effectively shut some eurozone banks out of funding markets in recent months.