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Economy

ASIC approves new banking code

The corporate regulator and the Australian Banking Association have agreed on a revised Code of Banking Practice, following months of disagreement.

ASIC, approved, banking code
‘Political scrutiny’ delaying big bank rate hike

Australia’s major banks have traditionally been the first to respond to higher funding costs by hiking interest rate; however, recent “political scrutiny” and the financial services royal ...

Political scrutiny
New home sales up for the first time in 2018

For the first time this year, new home sales have risen in every major market but one, according to a new report.

New home sales up for the first time in 2018
Victoria dethrones NSW as top state economy

Victoria has dethroned New South Wales for the first time to become Australia’s best-performing state economy, according to a new report.

mortgagebusiness
CoreLogic analyses ‘credit crunch’ scenarios

Describing the recent slowdown in overall lending activity as a credit crunch might be “overzealous”, but it could be true for investors in Sydney and Melbourne, CoreLogic’s Cameron Kusher ...

CoreLogic analyses ‘credit crunch’ scenarios
Mutual bank names CEO

BankVic has announced that former CFO Anthony De Fazio has been appointed to the role of CEO in a permanent capacity.

mortgagebusiness
ASIC winds up companies in land banking scheme

The Federal Court of Australia has made orders winding up five companies for their role in a land banking scheme that targeted both retail and SMSF investors.

ASIC
ASIC winds up land banking companies

The Federal Court of Australia has made orders winding up a number of companies for their role in a land banking scheme.

ASIC
AMP downgrades profits as it continues damage control

The embattled wealth giant has slashed its H1 FY18 profit expectations, citing the banking royal commission, customer remediation and some one-off costs as reasons for its reduced estimates

AMP
Trust in banking sector ‘deteriorating’

The “clear trust deficit” in the banking and financial services sector is worsening, according to joint research from Deloitte Digital and Salesforce.

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