The Commonwealth government will introduce a "responsible lending test" to the consumer credit code next year according to sources. Under the new rules, lenders.....
CBA says market repairs will take time 29 May 2008
The fallout from the volatility in global financial markets could take another six to nine months before settling down according to the wealth management arm of the Commonwealth Bank. Group executive of the division, Grahame Petersen, said yesterday that the 1987 share crash showed that it takes a long time for markets to rebuild. "I think the reverberations will take some considerable period of time," he said. Ultimately though, he believes in the underlying strength of the industry, driven by compulsory superannuation and an increasing number of people in retirement.
