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The directors of MyATM finally called in administrators yesterday. Stephen Duncan of KordaMentha will undertake the administrative task. read more

ANZ has prevailed over its opponents in a preliminary Federal Court ruling on the legal issues at stake in a test case over alleged overcharging of penalty fees. read more

More banks can expect class action proceedings over penalty fees to begin by the end of 2011 - more than a year after a test case was first initiated against ANZ. read more

The Federal Court of Australia will rule today on the first stage of a class action brought by 34,000 claimants against ANZ over its penalty fees. read more

ATM operator MyATM is expected to update the ASX on its financial position by tomorrow, after requesting a trading halt in its shares on Friday, pending an announcement "concerning the ongoing opera.. read more

A bias toward secured funding such as covered bonds will persist through 2012 for many of the world's banks, as managers and authorities deal with the twin challenges of sovereign and bank solvency.. read more

Standard & Poor's last night cut the long-term credit ratings of Australia's four major banks by one notch to AA- from AA. The downgrading was expected and in line with the review of country rat.. read more

The revised long-term credit rating for National Australia Bank of AA- may reveal it to be the most vulnerable of its domestic peer group, with Standard & Poor's citing its exposure to the stres.. read more

Moody's has provided an alternative assessment on the credit quality of Australian banks, and reiterated its view that "the outlook for Australia's banking system remains stable." read more

The A- credit rating for Macquarie Bank derives from the prospect of public sector intervention to assist the bank in any future period of difficulty, ratings agency Standard & Poor's makes clea.. read more