Publication: Banking Day

First reported May 22 2013 - Updated May 22 2013 - 1 reports

Resimac and AMAC bid for RHG

Mortgage lender Resimac has made a A$130 million offer to acquire the mortgage assets of RHG Ltd. The bid has been made in conjunction with a proposal by Australian Mortgage Acquisition Co to acquire all of RHG's shares by a scheme of arrangement.AMAC ... [Published Banking Day - May 22 2013]

Entities: RHG Ltd, Mortgages, Financial Crisis, Acquisition

First reported May 22 2013 - Updated May 22 2013 - 1 reports

Australian Securities & Investments Commission

ASIC bans Sydney finance broker

The Australian Securities and Investments Commission has permanently banned a Sydney motor vehicle finance and insurance broker after it was found he had engaged in dishonest conduct.Keith Son, who was the director of VIP Fleet, helped customers apply ... [Published Banking Day - May 22 2013]

Entities: Application-Specific Integrated Circuit, Sydney (Australia), Australian Securities & Investments Commission

First reported May 22 2013 - Updated May 22 2013 - 1 reports

AOFM sells more RMBS

The Australian Office of Financial Management has sold about A$300 million of its holdings in residential mortgage-backed securities. The Government's finance arm announced yesterday that it had sold securities from Apollo, SMHL and Torrens trusts.The ... [Published Banking Day - May 22 2013]

Entities: Mortgage-Backed Securities, Financial Management

First reported May 22 2013 - Updated May 22 2013 - 1 reports

KPMG

Syndicated loan volumes tumble

The Australian syndicated loan market took a tumble in the March quarter, with the number of deals falling from around 30 in the December quarter last year to around 10 in the latest quarter.KPMG's latest Debt Market Quarterly said volume has come down ... [Published Banking Day - May 22 2013]

Entities: Consortium, Debt Market, KPMG

First reported May 22 2013 - Updated May 22 2013 - 1 reports

Dun & Bradstreet Corp

Briefs: Suncorp raises A$770 million of tier-two capital, long wait for trade payments, iCash appoints new directors

Suncorp has further upsized its issue of Basel III-compliant tier two capital, this time to A$770 million. It has set the margin at 2.85 per cent over the 90-day bank bill rate.Businesses in Australia are waiting nearly eight weeks to be paid by other ... [Published Banking Day - May 22 2013]

Entities: Dun & Bradstreet Corp, Appointed, Australia

First reported May 22 2013 - Updated May 22 2013 - 1 reports

Three vie for sub-prime car lender

The finance company behind sub-prime car lender Motor Finance Wizard remains in the red for the third year running, disclosure documents relating to the forced sale of the business show.The PR Finance Group made a loss of A$476,000 in the eight months ... [Published Banking Day - May 22 2013]

Entities: Pr Finance Group Ltd, Keybridge Capital Ltd, Relativity

First reported May 22 2013 - Updated May 22 2013 - 1 reports

Bendigo and Adelaide Bank Ltd

Reverse mortgage lenders are too risk averse

Lenders that are serious about doing business in the equity release market should improve the terms of their reverse mortgages and consider introducing home reversion products.Academics from the School of Risk and Actuarial Studies at the University of ... [Published Banking Day - May 22 2013]

Entities: Mortgages, Bendigo and Adelaide Bank Ltd, Price Risk, University of New South Wales

First reported May 22 2013 - Updated May 22 2013 - 1 reports

Kiwibank's capital needs divide S&P and Fitch

Standard & Poor's has changed the outlook for its A+ credit ratings for Kiwibank and its state-owned parent, NZ Post, to negative from stable, saying there is a one in three chance of a rating cut in the next two years.The ratings agency said the outlook ... [Published Banking Day - May 22 2013]

Entities: Standard & Poor's, Fitch Ratings, New Zealand, Christchurch (New Zealand)

First reported May 22 2013 - Updated May 22 2013 - 1 reports

Finance firms survive best

New businesses operating in or on the fringes of financial services appear to have been more resilient than the average business during the era of the GFC, data on the entry and exit of businesses by industry suggests.The Australian Bureau of Statistics ... [Published Banking Day - May 22 2013]

Entities: Australian Bureau of Statistics, survival rate, Financial Crisis

First reported May 22 2013 - Updated May 22 2013 - 1 reports

Rubik buys software from Macquarie

Finance industry software provider Rubik Financial announced yesterday that it had entered into a binding agreement to buy Macquarie Bank's Visor Desktop financial planning software.Rubik bought the former COIN Desktop financial planning software system ... [Published Banking Day - May 22 2013]

Entities: Rubik Financial Ltd, Macquarie Bank LTD, Acquisition

First reported May 22 2013 - Updated May 22 2013 - 1 reports

NAB fulfils business bank's cost targets

National Australia Bank is to relocate hundreds of support staff working alongside business bankers to seven sites in five mainland capital cities, but no job losses are planned.The bank has outlined a restructure proposal to the Finance Sector Union ... [Published Banking Day - May 22 2013]

Entities: National Australia Bank Ltd, Finance Sector Union, Adelaide (Australia), Brisbane (Australia), Perth (Australia)

First reported May 22 2013 - Updated May 22 2013 - 1 reports

Westpac shuffles IT execs

Westpac chief information officer Clive Whincup has tweaked his team of direct reports to reflect changing priorities and to progress with the bank's A$2 billion Strategic Investment Priorities (SIP) program.Whincup said many of the moves were intended ... [Published Banking Day - May 22 2013]

Entities: Westpac Banking Corporation, CIO, Appointed

Quotes

It said: "The volume of bonds exceeded syndicated loans for the quarter, demonstrating the ongoing trend for borrowers to diversify the mix of bank versus..."

Syndicated loan volumes tumble [Published Banking Day - May 22 2013]

...financial officer of Commonwealth Bank, told The Australian that it was unlikely to buy a bank in Indonesia because "they're not for sale" and "certainly not at the price that we're willing to pay for them"

Indonesian banks too pricey for CBA [Published Banking Day - May 22 2013]

"The home owner and the financial institution both have an interest in seeing the property increase in value. There is a good alignment of interest" Hanewald said

Reverse mortgage lenders are too risk averse [Published Banking Day - May 22 2013]

State Custodians' chief executive, Heidi Armstrong, said: "We thought we could manage our costs at that level."

State Custodians cuts its variable rates again [Published Banking Day - May 21 2013]

More Content

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Three vie for sub-prime car lender [Published Banking Day - May 22 2013]
ASIC bans Sydney finance broker [Published Banking Day - May 22 2013]
Resimac and AMAC bid for RHG [Published Banking Day - May 22 2013]
AOFM sells more RMBS [Published Banking Day - May 22 2013]
Syndicated loan volumes tumble [Published Banking Day - May 22 2013]
Briefs: Suncorp raises A$770 million of tier-tw... [Published Banking Day - May 22 2013]
Indonesian banks too pricey for CBA [Published Banking Day - May 22 2013]
Thorn Group invests for the future [Published Banking Day - May 22 2013]
NAB fulfils business bank's cost targets [Published Banking Day - May 22 2013]
Kiwibank's capital needs divide S&P and Fitch [Published Banking Day - May 22 2013]
Finance firms survive best [Published Banking Day - May 22 2013]
Rubik buys software from Macquarie [Published Banking Day - May 22 2013]
Reverse mortgage lenders are too risk averse [Published Banking Day - May 22 2013]
Westpac shuffles IT execs [Published Banking Day - May 22 2013]
Stricter advertising rules needed for debt agre... [Published Banking Day - May 21 2013]
State Custodians cuts its variable rates again [Published Banking Day - May 21 2013]
Briefs: China UnionPay joins EMVCo, GE Capital ... [Published Banking Day - May 21 2013]
Macquarie hybrid hits price target [Published Banking Day - May 21 2013]
Bendigo and Adelaide in dispute with community ... [Published Banking Day - May 21 2013]
Analysis: Newpin social benefit bonds only for ... [Published Banking Day - May 20 2013]
May busy for bonds [Published Banking Day - May 20 2013]
New Zealand eyes micro-financing [Published Banking Day - May 20 2013]
New Zealand to minimise FATCA costs [Published Banking Day - May 20 2013]
Narev may owe staff another gift [Published Banking Day - May 20 2013]
Non-core sale plans develop at Suncorp [Published Banking Day - May 20 2013]
Endowment bond provider offers long-term deposi... [Published Banking Day - May 20 2013]
Keybridge will leave PR Finance team in place [Published Banking Day - May 20 2013]
Motorcharge optimistic after soft start to 2013 [Published Banking Day - May 15 2013]
Briefs: ASIC cancels Money Choice's licence, We... [Published Banking Day - May 15 2013]
Treasury challenged over OBU 'loopholes' [Published Banking Day - May 15 2013]