Many 'fund' current account deficit 11 July 2011 4:48PM A senior official of the Reserve Bank of Australia on Friday scotched the oft-repeated aphorism - one often repeated by bank CEOs - that the banks "fund" Australia's current account deficit. read more
Small ADIs fret over deposit vacuum 08 July 2011 4:42PM Big banks favour a low cap of A$100,000 on the level of deposit insurance, while credit unions, building societies and one small foreign bank hope to retain the present cap of $1 million, public sub.. read more
Western Union steps up in business payments 07 July 2011 4:36PM Travelex said it agreed to sell its global payments business to Western Union, a step that means Travelex will become primarily a processor of consumer payments in foreign exchange. read more
'Semantic' CBA joins banking IT network 07 July 2011 4:00PM Commonwealth Bank has formally joined the Banking Industry Architecture Network, the industry association announced this week. read more
CBA extends Indonesian franchise 06 July 2011 4:29PM Commonwealth Bank will continue to invest in its business in Indonesia, a subsidiary that earns little profit for the bank. read more
Early start for Bank of Melbourne 05 July 2011 4:38PM Westpac is advancing the relaunch of the Bank of Melbourne brand by several weeks and the brand will be actively back in use by the end of this month. read more
Losses profits at Lloyds Australia 04 July 2011 4:26PM Lloyds Banking Group may further "reshape" its business in Australia, a brief media statement circulated on Friday states. read more
Props for payments reforms canvassed in PSB review 01 July 2011 5:11PM The Payments System Board adopted an impatient, and interventionist, tone in its long-promised consultation paper on innovation in the payments system, released yesterday. read more
Credit demand slack all round 01 July 2011 5:10PM Growth in credit continues to be anaemic in Australia, and a drag on the profit outlook for much of the banking sector. read more
Lloyds looking to sell offshore banks 01 July 2011 5:04PM Lloyds Banking Group will halve its international presence over the next three years, reducing its overseas presence to fewer than 15 countries, from the present 30, to focus more on domestic retail.. read more