Clyne confirms: NAB a low return option 14 December 2010 5:42PM National Australia Bank earns the lowest return of the big four banks, NAB CEO Cameron Clyne acknowledged yesterday at a hearing of the Senate economics committee held in Sydney. His bank had "not d.. read more
NAB may take independent line on rates 14 December 2010 5:40PM Cameron Clyne, chief executive of National Australia Bank, opened the door to the bank taking a more independent line on the timing, and also the level, of interest rate rises in the future. "The ma.. read more
A$220m lost in fees at NAB 14 December 2010 5:38PM National Australia Bank conceded fee income of A$220 million a year from its removal of penalty fees, account keeping fees and home loan exit fees, the bank's CEO told the Senate economics committee.. read more
Fraser leads bank technology study 13 December 2010 6:07PM The state of bank technology in relation to account numbering and the portability of bank accounts is to be the subject of a review led by Bernie Fraser, chair of Industry Super Holdings and ME Bank.. read more
Small lenders jostle for federal support 13 December 2010 6:03PM The Australian Government will invest an additional A$4 billion in the secondary mortgage market in a second extension of a program first announced in late 2008. read more
Covered bonds may be capped at five per cent of assets 13 December 2010 6:02PM As expected, the Government yesterday announced that it will change the Banking Act to allow banks to sell "covered bonds", or bonds against which banks pledge pools of loans as collateral. read more
Deposit insurance cap still to be worked out 13 December 2010 6:00PM The Australian Government is to make its Financial Claims Scheme, rushed into law at the height of the financial crisis two years ago, permanent. read more
Home loans made portable 13 December 2010 5:59PM A "central account registry" may help make home loans more portable, assuming the industry, following Government prodding, actually organises itself to make use of a centralised and standardised acc.. read more
Lenders' mortgage insurance also made portable 13 December 2010 5:58PM Borrowers need not pay a second premium to a new lender for mortgage insurance on their home loan if they switch funders, the Treasurer, Wayne Swan, proposed in the Government's banking policy packa.. read more
Payments halt harms more than Wikileaks 10 December 2010 5:27PM Websites operated by MasterCard, PayPal, Post Finance and Visa all experienced degraded services for a time yesterday, and top domain names may still be receiving denial of service attacks as.. read more