The latest new lending data from the ABS showed a surprise fall in April, with a drop in refinancing, first time buyers, and general lending for housing.
This surprise change in the lending weather might be related to Easter which occurred in the month, or it might reflect the higher interest rates now on the cards.
We discuss the data and consider the consequences.
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This is an edited version of my latest live show, in which Robbie Barwick from the Australian Citizens Party examine the latest in the Senate Inquiry into Regional Banking Closures, the ASIC Inquiry, banks and corporates behaving badly and some of the broader geo-political risks in play.
We look at the latest Senate hearings on Regional Branch closures, and discuss the continued misdirection coming from the cost-cutting banks – justified – so called – by the migration to digital banking.
But as discussed during the hearings, the banks do not want to talk about what they are doing, and a peoples bank is required to offer a real alternative.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Perhaps we should be careful not to put the baby out with the bathwater!
“Our vision is to build the digital financial infrastructure for the future. We are moving forward with that overarching and audacious strategy and can clearly see how this will roll out.” Caroline Bowler CEO, BTC Markets
Go to the Walk The World Universe at https://walktheworld.com.au/
We (Dale Webster and I) have written to the Senate Standing Committee on Regional and Rural Affairs and Transport about the economic fallout from the removal of in person banking services across Australia. Today I discuss this with Robbie Barwick from The Australian Citizens Party and the need to lobby Senate members on this important issue.
If you care about the economic future of our regional towns and suburbs, then please contact your local Senators and tell them that they should support the initiative, ideally over the next few days, so as to create maximum impact in the final sitting weeks of the year.
AUSTRALIA’S banking regulator APRA is picking and choosing which banks it is allowing to get away with breaking the law by misreporting whether their sites offer cash service provided by a teller according to an important article in The Regional. Kudos once again to Dale Webster for highlighting this important issue.
Errors in hundreds of minor and foreign bank sites included in the Australian Prudential Regulation Authority’s points of presence data for years, even decades, have been corrected over the past 17 months after being exposed by The Regional in May 2021.
An important discussion about the games banks are playing in relation to the setting of deposit interest rates, in the context of the RBA rate hikes. Steve Mickenbecker from Canstar and I explore the elements which are driving returns lower than they should be, and what we can do about it. Another case of the apathy tax at work!
Steve Mickenbecker is in Canstar’s Group Executive Team, bringing more than 30 years of experience in the Australian financial services industry. As a financial commentator for Canstar, Steve enjoys sharing his expertise across topics such as home loans, superannuation, insurance, mortgages, banking, credit cards, investment, budgeting, money management and more.
Go to the Walk The World Universe at https://walktheworld.com.au/
Digital Finance Analytics (DFA) Blog
The Deposit Rate Plot Thickens: With Steve Mickenbecker [Podcast]
I discuss the creation of Kiwi Bank, a National Bank In New Zealand with one of its architects Hon Matt Robson.
Matt Robson’s commercial experience began in the Netherlands thirty years ago, working in the oil industry. This introduced him to the rigours of international commerce, budgets, deadlines, understanding complex commercial operations and structures, it also gave him management experience and familiarity of working with a multicultural, multilingual workforce, where reading and writing in foreign languages was a necessity. As a result he is fluent in speaking reading and writing Dutch, speaking and writing French and German and competent in reading Spanish.
In the 1970’s Matt qualified with a Diploma in Teaching and taught through the 1980’s in a number of secondary schools in New Zealand the majority in the South Auckland area.
In the 1980’s-1990’s Matt became engaged in party politics. As deputy leader of both the Alliance and Progressive Parties he acted as spokesperson and policy developer across a wide spectrum of policy issues in areas as diverse as economic development, social matters and international affairs.
Matt was a Cabinet Minister in the Labour-Alliance Coalition Government (1999-2002) and was allocated the following portfolios: Minister of Corrections , Minister for Land Information, Associate-Minister of Foreign Affairs (responsible for official Overseas Development Aid [ODA]), Minister for Disarmament and Arms Control.
He was also a significant driver in achieving justice for Algerian asylum seeker Ahmed Zaoui, both while as a Member of Parliament and as an independent barrister/solicitor.
He continues to practice law in Auckland and specialises in immigration law and migrant advocacy. Matt remains active in advocating global peace and justice and is a regular speaker at disarmament and anti-nuclear conferences around the world.
Go to the Walk The World Universe at https://walktheworld.com.au/
I am joined by Robbie Barwick from the Australian Citizens Party to discuss a critical policy area, ahead of the new Parliament sitting next week. We want to make sure the politicians are aware of the benefits of a National Postal Bank, and how you can help to raise that awareness.
