From the cost of cheese to house prices,things are going up. But lending,particularly to low-income earners,might be on the decline.
Australia’s financial regulator scrutinised how super funds put a value on unlisted tech play Canva,and found room for improvement.
The financial watchdog’s annual report card reveals one MySuper product and 96 trustee-directed products failed to pass its test.
Those hoping to switch to a mortgage with a lower interest rate need to tread carefully.
Macquarie Group’s rapid growth in mortgages has slowed sharply,which could be a sign the investment giant is happy to sit out a period of fierce competition.
The banking regulator requires the health insurer to hold additional capital,and flagged potential repercussions to executive pay after a review of its massive data breach last year.
APRA’s next Your Future,Your Super test,if implemented in its proposed form,has the potential to damage retirement outcomes for millions of Australians.
Regulators say Bank of Queensland has breached prudential standards and fallen short in its compliance with anti-money laundering laws.
Super funds’ “choice” investment options,particularly those that are closed to new members,have high rates of underperformance.
The Bank of Queensland expects net profit of just $4 million following a $260 million hit to its bottom line,but will issue an early payout to bondholders.
The spate of bank collapses in the US and Credit Suisse’s near-death experience has shone a light on the risks of financial contagion. Australia’s bank regulation might be a useful starting point to tackle them.