Economy

The banking sector has welcomed the official launch of the new open banking regime.

Nearly half of all mortgagors do not have a will, despite the purchase of property being a major trigger to organising one, according to new research.

The non-major lender has announced the appointment of a Commonwealth Bank executive as its new CEO.

The federal government has held talks with the heads of Australia’s major banks to discuss an “orderly transition” for borrowers on repayment holidays.

Westpac’s use of expense benchmarks for serviceability assessments was “far from intuitively odd”, a Federal Court Justice has said in his reasons for dismissing ASIC’s responsible lending ...

The non-major has increased its loan provisions after reassessing credit risks associated with the COVID-19 crisis.

The number of auctions held across Australia has hit its highest level in nine weeks, indicating ongoing improvement in seller confidence, according to CoreLogic.

A milder than expected increase in mortgage delinquencies could offset the impact of widespread job losses on the residential property market, according to CoreLogic.

ASIC has approved an application for temporary amendments to the banking code to allow banks to better manage the COVID-19 crisis.

The banking sector has welcomed the federal government’s latest stimulus package, which involves the phased rollout of a range of new grant and loan programs.