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The Australian Bureau of Statistics has identified signs of strain in household budgets, reporting that the value of household deposits shrank during the June 2023 quarter – the first quarterly declin.. read more

In a worst-case scenario, where APRA cuts the level of hybrid capital in a bank’s minimum regulatory capital to zero, the big banks would need to raise around A$17 billion of capital, an analyst has e.. read more

Payments services have continued to be a strong and growing earner for banks and other financial institutions, despite the slowdown in global economic activity over the past couple of years, McKinsey.. read more

Westpac group customers can now use any of the group’s branches for their cash transactions, following a technology upgrade that has connected the Westpac, St George, BankSA and Bank of Melbourne bran.. read more

The Customer Owned Banking Code Compliance Committee has renewed its call for mutuals to review their reporting systems to ensure they are capturing code breaches and reporting them. read more

NAB will pay a $2.1 million fine for continuing to charge customers periodic payment fees when it knew it was overcharging. read more

Global bank credit formation has slowed this year in response to higher borrowing costs and tighter lending standards, but private credit markets continue to expand, the latest Institute of Internatio.. read more

Mortgage company Yellow Brick Road went into a trading halt yesterday, flagging an announcement that it will apply to delist from the Australian Securities Exchange. read more

Participants in Australia’s e-conveyancing system conducted a long-awaited interoperability trial this week, with the industry body rating it a success and a program milestone. read more

A major shift in consumer behaviour is underway, with less spending on discretionary goods and services and more on essentials, according to a new report.  read more