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Latest News
10 March 2010
  ANZ Bank has established a specialist team of bank executives to fix problems affecting its mortgage processing systems. ANZ has recently moved to outsource .....
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10 March 2010
 Brokers offer cash back on mortgage commissions
 Insurers dealing with 40,000 claims
 Bank of Queensland builds war chest
9 March 2010
 CBA lowers LVRs for investors
 Property getting unaffordable again
Articles
Credit Cards
  CreditMart recently undertook some analysis around interest rates on reward program credit card offers and found that the average interest rate on these cards was 1.....
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Leasing
 Commercial Hire Purchase
Article
 Building approvals fall
Online Brokers
 RAMS reports profit surge
Internet Banking
 Phishing inhibits banks communication with customers
Low Doc Loans
 RBA considers housing loan stress levels
 
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Credit Cards
 
Not all credit cards are created equally. And so it makes it that much harder to decide which credit card offer to choose. There are many factors you sh.....
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Credit Cards
 Credit Card Balance Transfers
 Watch out for the 'revert rate' on balance transfer offers
 Watch for different interest rates on the one card
HomeLoans
 Don't compare against the so-called 'standard variable rate'
 Look out for 'deferred establishment fees'
 
Latest News
Banks lend super contributions to customers
29 August 2008
 
Superannuation contributions are being channelled through the wealth management arms of banks and life companies via cash account and term deposit options into their lending businesses. AMP reported yesterday that its banking business received 34 per cent of its funding from retail deposits, 46 per cent from wholesale funding and 20 per cent from superannuation contributions. This may be a factor in AMP Banking's strong mortgage lending growth over the past six months. The mortgage book has increased from $8.1 billion at the end of last year to $9.1 billion at the end of June – a 24.7 per cent annualised growth rate. Other lenders to report strong increases in funding from super contributions include St George, through its wealth management arm Asgard, Westpac through BT Super and ANZ through ING Australia and some third-party deals. St George Bank reported at a market update earlier this month that it had grown its retail deposit book by almost 19 per cent to $55.3 billion over the past year and in the process has been able to reduce its demand for funds from other sources. Some analysts doubt the quality of this new funding source on the grounds that banks count super contributions as retail deposits but in reality the internal transfer mechanism that got the money from the super fund to the bank was a wholesale transaction. In other words it is expensive wholesale money that provides a low margin. ANZ managing director of investment and insurance products Geoff Cohen said the deposits sit on the bank's balance sheet and are treated as retail deposits in the same way that a term deposit transacted at a branch would be treated.
 
Source : The Sheet
 

 
30 August 2008 - Australian Credit Card Interest Rate Summary
 
29 August 2008 - Less money coming in to AMP
  - Aussie picks AMP for mortgage insurance
  - ANZ leads on rate cuts
 
28 August 2008 - The Rock loses deposits
  - Raise the retirement age to 75 say seniors
 
26 August 2008 - Super loser sold
  - Suncorp profit slide
  - St George needs Westpac
  - Force boss to go green say workers
 
25 August 2008 - ANZ sacks 8 over Opes
  - No gaol for Westpoint salesman
  - ANZ fallout continues
 
22 August 2008 - Time to end the landlord's tax break says NAB
  - Swan tells CBA, ANZ and Westpac to fall into line
  - Non-bank lenders will come back
  - NAB losing the mortgage war
  - NAB commits to cut rates
 
21 August 2008 - Responsible lending code not needed say banks
  - PayPal told to change
  - Cut rates says Westpac
  - Banks manipulate customers
 
20 August 2008 - RBA makes rate cuts crystal clear
  - More three generation homes than ever before
  - Melbourne is most liveable city
  - Global banking crisis to continue
  - Aussie John sells out to Commbank
 
19 August 2008 - Mortgage rates cut
  - More disturbance at The Rock
  - Australian Central moves west
 
18 August 2008 - Term deposit rates come down
  - Swan tells the banks
  - Good debt drives bank profit
  - Fixed rate mortgages fall
 
15 August 2008 - Woolies MasterCard, Woolworths MasterCard, Woolworths Credit Card launches new financial services
  - Westpac sacks planners
  - CBA expects flat year with no nasty surprises
  - Banks told to pass on cuts
 
14 August 2008 - Profit up for IMB
  - Commonwealth sells more mortgages and overdrafts
  - Commonwealth loses business customers
  - Profits and bad debts up at Commbank
  - Green light from regulator for St George and Westpac
 
13 August 2008 - St George on track for big profit
  - Deposits pour in at St George
  - Commonwealth banks profits
 
12 August 2008 - Profit surges up for Bendigo & Adelaide
  - NAB signs Chinese deal
  - NAB looks to expand into shares
 
11 August 2008 - Westpac emerges
  - Smoke and mirrors cost ANZ
  - Shareholders review Members Equity bank
  - Credit laws get reviewed
 
08 August 2008 - Rates to fall to five per cent next year
  - Mortgage broker posts strong sales growth
  - GE looking to do something with Wizard
 
07 August 2008 - Westpac is the safest bank
  - Taxes dampen market activity
  - Low doc borrowers cut out of market
  - Banks may not pass on rate cuts
  - Aussie on the prowl
 
06 August 2008 - Consumer demand for credit falls.
  - The Reserve Bank Australia set to lower rates in September.
  - Wealth managers struggle
  - Competition in home loans alive and kicking
 
05 August 2008 - Suncorp faces losses
  - Consumer lending and delinquencies up for HSBC
  - Bank margins widen
  - House prices falling
 
04 August 2008 - Suncorp's bank business slows sown
  - Hard to make ends meet on $273 a week
  - DIY super outperforms
 
01 August 2008 - Top end of property market hit by high rates
  - Grains and meat drive Elders Rural Bank profit
  - BankWest's east coast plans eat into profit
  - Aviva suffers with markets
  - Rates could fall half a per cent next week
  - Non bank lender goes belly up
  - Market unimpressed by new NAB boss
  - Credit growth stalls
 
Mar 10Feb 10Jan 10Dec 09Nov 09Oct 09Sep 09Aug 09Jul 09Jun 09May 09Apr 09  
 


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