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Industry Super Holdings took a write-down of 20 per cent in the carrying value of Members Equity Bank in its accounts for the year to June 2008, a reflection of the diminished value of all banks and a.. read more

A rise in the level of bad debts due to an economic downturn is no licence to make money for debt collectors, and the reverse may well be true. read more

Business deposits in Macquarie Bank fell heavily in the month of September 2008, a period in which the liability profile of banks varied greatly as customers responded to the enormous upheaval in glob.. read more

September was a memorable month in offshore markets and banking with the conservatorship (and default) of US mortgage funders Fannie Mae and Freddie Mac, the rescue of American International Group, th.. read more

Banks in New Zealand will pay more than banks in Australia if they choose to sell term debt in offshore markets with the benefit of a government guarantee. Banks will also pay more for a guarantee on.. read more

Citibank has cut commercial mortgage lending and also personal instalment loans from its product offering. The bank will continue to concentrate on residential home loans and credit cards. read more

Causeway Asset Management will take control of the Seiza Group of companies following a vote by creditors on Wednesday. Seiza was a late entrant into mortgage funding and is one of the first to expire.. read more

FirstMac and Members Equity Bank are the first two mortgage funders selected by the Australian Office of Financial Management for co-investment in pools of mortgage-backed securities. The AOFM advised.. read more

Bendigo and Adelaide Bank yesterday said it will sell $75 million in converting preference shares. The bank set a preliminary pricing range on the securities at between 4.5 percentage points and 5.0 p.. read more

Directors of IMB have withdrawn a resolution for today's annual meeting seeking an increase of five per cent in directors' fees to an aggregate of $579,000. read more