Deposit products need more renewal: RBA 17 December 2014 4:29PM An expected overhaul of basic deposit products to meet the new liquidity regime is taking its time to work its way through the industry, Guy Debelle, assistant governor for financial markets at the Re.. read more
Court confirms BOQ Storm settlement 17 December 2014 4:28PM The Federal Court yesterday approved the settlement agreed between Bank of Queensland and ASIC, that will see the bank pay A$17 million in compensation to former clients of Storm Financial. read more
Gift card backers promote high breakage rates 16 December 2014 4:32PM Australian gift card program producers routinely promote high breakage rates in their marketing to convince merchants to sign up and offer prepaid gift cards to their customers. read more
CGS needs jump $36bn 16 December 2014 4:17PM The Australian government's borrowing needs will climb over the remainder of the financial year, with Treasury producing new projections yesterday in the Mid-Year Economic and Fiscal Outlook. read more
No need for Bendigo to settle Great Southern class action 15 December 2014 4:24PM Bendigo and Adelaide Bank may have erred on the side of generosity - and burnishing its own reputation - in electing to settle a long running legal wrangle over agribusiness loans connecte.. read more
Credit demand turns down 15 December 2014 4:23PM The mid-year bulge in demand for commercial credit has reversed, monthly flow data from the Australian Bureau of Statistics shows. read more
Westpac queasy on capital target 15 December 2014 4:22PM Lindsay Maxsted, chair of Westpac, on Friday voiced unease over the tenor of key recommendations of the Financial System Inquiry. read more
Liberty clarify consolidated profit 15 December 2014 4:19PM Liberty Financial on Friday produced consolidated, though abridged, financial results for its year to June 2014. read more
Briefs: MyState pays up for RMBS, hybrid bank bonds disliked in survey 15 December 2014 4:18PM A securitisation of prime mortgages originated by MyState Bank and The Rock Building Society, through the Conquest 2014-2 Trust, produced pricing at the high end of a recent range for mortgage-backed.. read more
Margins a mess for largest non-banks 12 December 2014 4:21PM Australia's largest non-bank lenders struggled with lower margins (and in one case, losses) over the 2014 financial year. FirstMac, Resimac and Liberty Financial all produced patchy returns last year. read more