Financial Services
Banks near real-time payment
RICHARD GLUYASThe $1 billion new platform will settle payments in about 15 seconds — compared with one to three days taken now.
Banks sitting on $500bn ‘liar loans’
Michael RoddanAustralian banks underestimate the risks of a housing collapse thanks to $500 billion of ‘liar loans’.
Fees underpin Macquarie profit
Michael RoddanMacquarie Group has flagged a rise in profit for the first half of the year on the back of stronger performance fees.
Health insurers target young
Sarah-Jane TaskerHealth insurers are looking to reinvent their approach to encouraging young people to buy their product.
CBA faces huge capital call
Michael RoddanCBA could be forced to hold billions more in regulatory capital after levels of risk-weighted capital fell.
NAB wealth boss to lift the game
Cliona O’DowdThe CEO of NAB’s wealth management arm says the industry has a moral obligation to ‘get it right’ and restore trust.
Macquarie flags first-half lift
Robb M. StewartAustralia’s biggest investment bank has flagged a lift in first-half profit on the back of stronger performance fees.
$500bn ‘liar loans’ risk looms
MICHAEL RODDANOne third of borrowers were not “completely factual and accurate” on their home loan applications, a UBS survey reveals.
Banks ‘exiting wealth’
Ben WilmotAustralian banks are likely to exit their wealth-management businesses, according to MP David Coleman.
Aust consumer data safe: Equifax
Eli GreenblatThe Australian arm of Equifax has sought to distance itself from a major cyber security crisis engulfing its US parent.
Australia ‘escapes credit hack’
Eli GreenblatThe local arm of credit analytics firm Equifax says there’s no impact here from a security crisis engulfing its US parent.
CBA culture in spotlight
Michael RoddanAPRA’s CBA probe will be led by former chairman John Laker, former ACCC head Graeme Samuel and Jillian Broadbent.
Own up swiftly, Byres tells banks
Scott MurdochAustralian Prudential Regulation Authority chairman Wayne Byres wants the domestic banks to report problems quickly.
CBA vague on medical records
Michael RoddanCommonwealth Bank has admitted it has no idea how many copies of patients’ medical records it keeps for insurance.
Former watchdog to give grilling
RICHARD GLUYASA former top banking regulator will lead an independent inquiry into cultural shortcomings at the Commonwealth Bank.
CBA inquiry given wide scope
RICHARD GLUYASAPRA’s terms of reference are an open invitation to the inquiry panel to turn CBA upside down.
Laker, Samuel to probe CBA
Samantha Woodhill, Richard GluyasFormer APRA chairman John Laker heads a three-strong panel that will conduct an inquiry into CBA’s culture.
McEwan in line for CBA return?
Harry WilsonFormer top CBA executive Ross McEwan has been identified as a potential successor to departing boss Ian Narev.
Laker to lead CBA inquiry
RICHARD GLUYASJohn Laker will lead APRA’s independent inquiry into the culture of CBA.
ANZ turns a coal shoulder
RICHARD GLUYASThe ANZ Bank said it was unlikely to finance any transaction on the Liddell coal-fired power station in NSW.
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