ANZ hit with extra $250 million capital charge over poor culture concerns
Big four

ANZ hit with extra $250 million capital charge over poor culture concerns

The Australian Prudential Regulation Authority has expressed it has heightened concerns about ANZ’s corporate governance stemming from the bank’s bonds trading scandal,and demanded the bank holds an extra $250 million in capital until it cleans up its cultural problems.

  • bySumeyya Ilanbey

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The multibillion-dollar blow primed to hit Victorian taxpayers and the budget
Exclusive
Victorian budget

The multibillion-dollar blow primed to hit Victorian taxpayers and the budget

Government agencies will fork out $15 billion a year for insurance claims by 2028,a 36 per cent surge that threatens to rock the state’s already struggling finances.

  • byKieran Rooney
Tsunami of financial distress a sad indictment of society
Letters

Tsunami of financial distress a sad indictment of society

The lending rules of our banks have contributed to the mortgage crisis people now face. When interest rates were at record lows,banks were only too willing to allow borrowing. They surely would have been aware this would be unsustainable when interest rates inevitably rose.

BOQ profits stifled as inflation,higher funding costs shred margins
Banking products

BOQ profits stifled as inflation,higher funding costs shred margins

The bank unveiled a cash profit of $172 million in the six months to February 29,down 33 per cent compared to the first half of last year.

  • bySumeyya Ilanbey
Bank profit margin crunch to continue as customers shift deposits
Big four

Bank profit margin crunch to continue as customers shift deposits

Bank margins will continue to dwindle in the first half of this financial year,analysts say,as customers move their savings into higher-interest offerings.

  • byMillie Muroi
Pressures grow as more buyers fall behind on their mortgages
Interest rates

Pressures grow as more buyers fall behind on their mortgages

Economic regulators are reporting an increase in the number of Australians falling behind on their monthly mortgage repayments.

  • byShane Wright
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Bank branch closures roll on as cash usage declines
Big four

Bank branch closures roll on as cash usage declines

More than 1400 bank branches have closed in Australia since 2017. But there are key reasons why it’s important for banks to maintain their physical presence.

  • byMillie Muroi
‘Not like a Bali holiday’:Crippling HECS debts spark calls for home loan overhaul
HECS

‘Not like a Bali holiday’:Crippling HECS debts spark calls for home loan overhaul

Universities Accord panel chair Dr Mary O’Kane has urged authorities to look at the impact of HECS-HELP on home loan assessments as young people struggle to enter the housing market.

  • byAngus Thompson
The Australian ‘banks’ of sovereign citizens – and the havoc they wreak
White collar crime

The Australian ‘banks’ of sovereign citizens – and the havoc they wreak

Creditnet Bank Internationale has no office and does not take deposits from consumers. Yet the group has found itself at the centre of controversial moments in Australian corporate history and an attempted $25 billion fraud on the nation of Palau.

  • bySarah Danckert
ASIC warns workers ‘left in the dark’ on poor performing super
Analysis
Superannuation

ASIC warns workers ‘left in the dark’ on poor performing super

Financial planners and super funds are not doing enough to address underperformance of superannuation investment options.

  • byJohn Collett
Regulators eye household debt risks as late payments edge up
Regulation

Regulators eye household debt risks as late payments edge up

Australia’s high level of household borrowing could pose risks to the economy as late payments tick up according to the country’s financial regulators.

  • byMillie Muroi