AMP board member and committee chair to retire
Reporter
The wealth firm has announced the impending retirement of a board member at its next annual general meeting.
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NAB tightens up on SMSF loans, scraps referrer payments
A big four bank has announced that it will cease accepting new SMSF commercial applications unless customers meet new criteria and that it w...
Federal Court receives $35m to combat financial crime
The Federal Court of Australia has for the first time been given jurisdiction over corporate crime and a $35 million funding boost to support the expanded authority.
APRA revises ADI credit risk management standard
The prudential regulator has released its revised standard on credit risk management requirements for ADIs, which has undergone no major revision in more than a decade.
Mortgage lender pulls out of market
Just a year after launching, a mortgage lender specialising in non-resident mortgages is being wound down and will not proceed with any loan...
‘Systemic’ SMSF lending risks quashed by regulators
The federal government will not make any changes to limited recourse borrowing arrangements held by SMSFs, after Australia’s leading regul...
Mortgage growth offsets bank’s NIM pressures
A non-major lender has reported above system mortgage growth, which has helped offset cost pressures that have placed downward pressure on the bank’s net interest margin.
Tax changes could ‘dampen’ FHB saving capacity
Labor’s proposed changes to capital gains tax and negative gearing could hamper the capacity of borrowers to save up for their first home, an association has claimed.
Non-major pledges $3bn to SMEs
A non-major bank has pledged to provide $3 billion of new credit to small businesses and “increase its appetite for lending with less secu...
RMBS delinquencies projected to rise
The delinquency rate of prime residential mortgage-backed securities in Australia will continue rising in coming quarters, according to Moody’s latest outlook.
