Briefs: Auswide sub debt, YBR buyback, CreditorWatch appoints economist, NZ payment policy expected 08 September 2020 6:28AM Banking Day staff Briefs, Auswide Bank, Subordinated debt, Appointments, Payments system & regulation, Bank fees, Finance regulation Auswide Bank has completed a A$12 million tier 2 subordinated debt issue, paying 395 basis points over the bank bill swap rate. The bank’s capital ratio fell from 13.79 per cent to 12.95 per cent in the year to June. Yellow Brick Road will offer an on-market share buyback of up to 28.4 million shares – around 8 per cent of ordinary shares on issue, saying it expects to return around A$1 million of capital over the next 12 months. The buyback will be funded out of cash flow and cash reserves. Economist Harley Dale has joined commercial credit bureau CreditorWatch as its senior economist. Dale is moving from the Housing Industry Association, where he was chief economist and also executive director, skills and industry development. New Zealand’s Labour Party, which is on track to win re-election in the upcoming election, is expected to announce a policy aimed at reducing how much money small businesses are forced to pay for contactless payment services. The Herald reports the plan is aimed at reducing the hundreds of millions of dollars paid to banks in merchant servicing fees every year.