Economy

Several banks have announced disaster relief packages for customers affected by bushfires in NSW and Queensland.  

The non-bank has priced its second PRS for 2019, issuing $750 million of bonds backed by Australian mortgages.

The collective cash earnings of the big four banks fell 7.8 per cent in the 2019 financial year, with earnings to be placed under continued pressure in FY20, according to EY.  

The WA government is urging people to be on “high alert” after identifying a scam where a settlement agent’s email was cloned, resulting in $70,000 being stolen from their clients.

AFCA has released a new online comparison tool that allows consumers to view and compare the number and nature of complaints filed against financial institutions.

The big four bank has lowered its interest rate floor for home loan serviceability assessments for the second time in less than four months.

Westpac has completed a $2-billion institutional share placement, less than 24 hours after calling a trading halt to launch a $2.5-billion capital raising.

The Reserve Bank remains on track to cut the cash rate twice in the coming months, despite singing a “more upbeat” tune in its statement on monetary policy, according to a senior economist

The cost associated with housing construction continues to increase, at a pace faster than that of inflation, new research has shown.

Sharp interest rate discounting among lenders is proof of healthy competition in the mortgage market, according to the chief executives of ANZ and Westpac.