Economy

The chair of APRA has placed pressure on the major banks to upgrade their legacy IT systems as they would not meet future prudential requirements.

The expiry of the interest-only period is set to place 13 per cent of property investors in financial stress, according to new research.

Fiscal stability has helped reaffirm Australia’s AAA credit rating, which could come under pressure if the housing market experiences a sharper decline, according to Standard & Poor’s

It could be worthwhile for retail banks to join forces with tech firms, or risk losing customers to the likes of Google and Facebook, according to the global consultancy firm.

The trajectory of the recent decline in property prices has been “unremarkable”; however, “several wild cards remain” that could trigger a sharper fall, according to one analyst.

The prudential regulator’s latest quarterly banking statistics prove that borrowers are seeking finance alternative from customer-owned banks as their trust in major banks fades, according ...

The lack of borrower understanding of interest-only loan terms, especially among owner-occupier households, is “concerning”, a global investment bank has warned.

A major bank has cut executive bonuses as it continues its efforts to regain public trust against the backdrop of the ongoing royal commission.

Australians with black marks on their credit report would not have to continue being disadvantaged due to past financial hardships under the new mandatory CCR regime, a credit reporting ...

Home loan delinquencies underlying Australia’s residential mortgages are 21 basis points higher year-on-year, and are likely to increase following out-of-cycle interest rate hikes, according ...