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In the end, the exit of Xinja Bank from the industry will be handled in good order, with all banking services terminated and all depositor funds returned by 15 January 2021. read more

Radioactive from the day they launched a wildly overpriced high yield account, the board of Xinja Bank were sinking their own boat. read more

The liquidity phase of the crisis “is giving way to a solvency phase,” and the RBA is now touting the truth that was always there at the outset of the Covid recession. read more

Orbyt Corporation, a fintech startup with an SME focus, is in the queue for a banking licence, and aims to launch in third quarter of next year. read more

The congested, and now mostly mandated, strategic investment priorities of Westpac will have to draw funding from sparsely funded investment pool, the bank’s 2020 annual meeting heard on Friday. read more

Living in hope, living on fumes and living off the fat of the latest capital raise, there appears to be no shortage of fintechs wondering if they might be ‘the one’. read more

Banking Day is a supporter of the Transparency Task Force, which bounces an Australian chapter into play this evening. read more

The counter-cyclical capital buffer will be 1.0 per cent by default for Australian banks from 2023. There will be an increase in capital ratios overall, and maybe no need to tap the market for capital.. read more

Victoria and NSW see their credit ratings shot down. read more

The ‘buffer’ framework in bank capital management is up for an overhaul as part of a wider “package of bank capital reforms.” APRA will release more detailed thinking for consulation next week. read more