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A debt for equity swap is in the works for the lenders to Babcock & Brown, though the terms and timing are still in the course of negotiation and may not be resolved until some time in 2009. read more

City Pacific yesterday said it sold its network of mortgage origination outlets to OneLend Corporations, a Melbourne-based mortgage manager. read more

Australia's state governments are pushing for the federal government to help the states borrow at terms equivalent to the Commonwealth's credit rating. read more

Mortgage funder FirstMac is looking at a revival in profit this year, and even a record profit, as the reduction in interest rates and flatter yield curve generates more favourable returns despite the.. read more

Big banks split, for once, in their pricing response to the reduction in the target cash rate by the Reserve Bank of Australia, announced yesterday. The RBA cut the target rate by 100 basis points to.. read more

The data quoted yesterday on traffic to the website of RateCity, sourced from RateCity - of 875,000 unique visitors of which 215,000 turned into referrals to financial institutions - was yearly and no.. read more

Futuris yesterday said it forecast a net profit contribution from Elders Rural Bank of $21.1 million in the December 2008 half (up from $19.4 million in the December 2007 half) and a net profit contri.. read more

Just to round off this newsletter's tour of the "pillar 3" disclosures of banks (and which still leaves some very small foreign banks out of the coverage): read more

The Australian Prudential Regulation Authority may take into account the balance between short-term and long-term incentives in setting executive pay but won't otherwise seek to restrict the level of.. read more

The Australian government announced the introduction of a guarantee over all retail deposits and select wholesale liabilities in mid October, one of the first of what has since turned into nineteen na.. read more