All posts tagged "ANZ"
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289UncategorisedWestpacs Provision Extra A$510mn for Customer Remediation
Misconduct linked to the issues identified by the royal commission could cost Australia’s four largest banks up to A$10bn.
May 2, 2019 -
1.0KAustralia & NZAustralian Financial Sector Teams Up on Climate Initiative – Report
Overseen by APRA, a group of industry players – including the big four banks – are looking to reshape the financial system to ensure readiness for climate risks.
March 30, 2019 -
509Australia & NZRBA’s Kent Urges Continued Preparation for the End of LIBOR
The RBA's Christopher Kent urges market participants to continue preparing for the end of LIBOR by moving to alternative RFRs and adopting more robust fall-back provisions in contracts.
March 21, 2019 -
590Australia & NZ
Australian Banks Taking Too Long to Fix ‘Fees-For-No-Service’ Failings – ASIC
Delays attributed to poor record-keeping and systems, failures to implement methodologies to identify and compensate customers, and an overly legalistic approach at some institutions.
March 12, 2019 -
915Australia & NZAustralia’s Banking Oligopoly Lacks Mortgage Price Transparency – ACCC
An inquiry by Australia's competition watchdog found that opaque discretionary mortgage pricing at major banks is stifling competition and disincentivising borrowers from seeking better offers.
December 11, 2018 -
770Australia & NZ
Australian Court Orders A$3.3mn Penalty for Westpac BBSW Misconduct
The penalty is far less than the combined A$125mn that NAB, ANZ and CBA paid to settle their own BBSW cases with ASIC out of court.
November 12, 2018 -
538Australia & NZ
APRA Proposes Higher Capital Requirements for Big Four Banks
The banking regulator is seeking feedback on a proposal to increase the Total Capital requirement for Australia's D-SIBs by 4-5% of risk-weighted assets by 2023.
November 9, 2018 -
394Australia & NZASIC to Begin Embedding Staff within Banks Starting with CBA
ASIC officials will begin working at CBA starting from next week and will go in and out of other institutions, focusing on institutional behaviour and decision making.
October 26, 2018 -
483InternationalBanks Team Up to Develop Digital Trade Finance Network
The 'Trade Information Network' is expected to be production-ready by Q3 2019, representing the "first inclusive global multi-bank, multi-corporate network in trade finance".
October 23, 2018 -
520Fintech / RegtechJP Morgan Blockchain-based Payments Platform Gains Traction
The Interbank Information Network (IIN) now has 76 participating banks; it seeks to use blockchain tech to reduce the time correspondent banks spend responding to inquiries that delay payments.
October 1, 2018
