Search Results for: shadow banking

‘Tweaks’ to broker commissions not going far enough, says CHOICE

From Mortgage Professional Australia. Consumer group sets out views on remuneration, soft dollar benefits and ‘not unsuitable’ obligations in exclusive interview with MPA Brokers remuneration is “adding fuel to the fire” of Australia’s overheated housing markets and “needs to change”, according to consumer advocacy group CHOICE. In a frank interview with MPA, head of campaigns … Continue reading “‘Tweaks’ to broker commissions not going far enough, says CHOICE”

Malcolm Turnbull seizes housing affordability as key to his comeback

From The New Daily. Malcolm Turnbull has seized on housing affordability as one issue that could help drag his government out of the electoral doldrums, according to sources close to the Prime Minister. Treasurer Scott Morrison is currently in London with a mission to take a lead from Britain in finding ways to open up … Continue reading “Malcolm Turnbull seizes housing affordability as key to his comeback”

The Fallout From Low Interest Rates

The current environment of low growth and the resulting low interest rates are already having significant economic, legal and social repercussions. We are in a phase of weak growth and low interest rates – not only in Europe but in many mature economies. Without there being a final consensus, experts are providing a colourful bunch … Continue reading “The Fallout From Low Interest Rates”

Morrison warns banks not to pass on new ‘user-pays’ impost to finance ASIC reform

From The Conversation. Treasurer Scott Morrison has warned Australian banks not to pass on to customers the $121 million user-pays charge imposed on them to finance a strengthened Australian Securities and Investments Commission (ASIC). The banks will pay for almost all the $127 million four-year package, which the government hopes will take the sting out … Continue reading “Morrison warns banks not to pass on new ‘user-pays’ impost to finance ASIC reform”

FactCheck: does ASIC already have the powers of a royal commission and more?

From The Conversation. ASIC has the powers of a royal commission and, in fact, it has greater powers than a royal commission. – Treasurer Scott Morrison, speaking to reporters, April 8, 2016. Opposition Leader Bill Shorten has promised to set up a royal commission into misconduct in the banking and financial services industry if elected. … Continue reading “FactCheck: does ASIC already have the powers of a royal commission and more?”

Digital Disruption and the Sharing Economy

The sharing economy has the potential to disrupt current business models, whether its taxis, banking, accommodation or a range of other areas. It also has the potential to be stopped dead in its tracks, if incumbents, or regulation get to dictate too much too soon. This note offers a few observations about the potential of … Continue reading “Digital Disruption and the Sharing Economy”

The Future of Cash – a UK Perspective

The Bank of England says those claiming “the death of cash” is imminent, are mistaken. They do so in a pre-released an article from its Quarterly Bulletin 2015 Q3 – How has cash usage evolved in recent decades? What might drive demand in the future? The issuance of banknotes is probably the most recognisable function … Continue reading “The Future of Cash – a UK Perspective”

CBA Announce Results to 30 June 2015 With Profit up 5% and $5bn Share Rights Offer

CBA announced its results for the financial year ended 30 June 2015. The Group’s statutory NPAT was $9,063 million, which represents a 5 per cent increase on the prior year. Cash NPAT was $9,137 million, also up 5 per cent. The Group also announced the launch of a $5 billion pro rata renounceable entitlement offer … Continue reading “CBA Announce Results to 30 June 2015 With Profit up 5% and $5bn Share Rights Offer”

High Liquidity Creation and Bank Failures

An IMF working paper published today entitled “High Liquidity Creation and Bank Failures”, suggests that regulators may want to consider incorporating liquidity creation into their early warning systems and subject high liquidity creators to additional oversight to either prevent bank failure or impose an orderly winding-down of the bank and limit taxpayer losses. Identifying vulnerabilities … Continue reading “High Liquidity Creation and Bank Failures”

A Sharp Downturn (Though Unlikely) In China Would Impact Australia – World Bank

The latest East Asia and Pacific Economic Update from the World Bank says “a significant slowdown in China, though unlikely, would exert large spillovers, particularly on commodity exporters. In China, a disorderly unwinding of real and financial vulnerabilities could trigger a sharp slowdown in investment and output growth. A steep decline in property prices could … Continue reading “A Sharp Downturn (Though Unlikely) In China Would Impact Australia – World Bank”