Economy

A government-financed mortgage deposit fund for first home buyers has been proposed as an alternative to the federal Labor opposition’s housing affordability policy.

The federal Labor opposition has committed to provide $60 million in funding for the issuance of loans to “vulnerable Australians” as an alternative to “harmful financial products” offered ...

The Federal Court of Australia has for the first time been given jurisdiction over corporate crime and a $35 million funding boost to support the expanded authority.

The prudential regulator has released its revised standard on credit risk management requirements for ADIs, which has undergone no major revision in more than a decade. 

A former CEO of ING Bank, Don Koch, has been appointed to the board of directors of the BNK Banking Corporation, effective 11 June.

A non-major lender has reported above system mortgage growth, which has helped offset cost pressures that have placed downward pressure on the bank’s net interest margin.  

Labor’s proposed changes to capital gains tax and negative gearing could hamper the capacity of borrowers to save up for their first home, an association has claimed.

A non-major bank has pledged to provide $3 billion of new credit to small businesses and “increase its appetite for lending with less security”.

The delinquency rate of prime residential mortgage-backed securities in Australia will continue rising in coming quarters, according to Moody’s latest outlook.

Risks associated with the effects of falling home values on mortgage serviceability are “not large enough” to pose a “widespread” threat to financial stability, according to the RBA