Economy

Macquarie’s chairman and NAB’s CEO have sought to reinfuse confidence in the banking sector and repair reputational damage inflicted by the financial services royal commission.

The ABA and major banks have called for changes to the proposed rules that would define the jurisdictional parameters of AFCA, calling certain provisions “inappropriate”.

The financial services royal commission is continuing to undermine trust in the banking sector, with new research revealing that consumers are now less inclined to back their bank.

Standard & Poor’s has provided top preliminary ratings to $484 million of ME’s second residential mortgage-backed securities (RMBS) issue of 2018.

The professional services giant has highlighted how third-party distribution is an effective way for banks to diversify and de-risk their mortgage books.

Moody’s has provided its highest provisional rating to $589 million of Pepper Group’s second residential mortgage-backed securities (RMBS) issue of 2018.

House prices in Australia will continue their downward trend for at least another two years, economists surveyed by Bloomberg have said.

The wealth giant has acknowledged that it has “let down [its] customers” and has said that it will “do whatever it takes” to regain trust, following a damning report on ABC’s Four Corners ...

The mortgage broking industry contributed nearly $2.9 billion to the Australian economy in 2017, supported more than 27,100 full-time workers and increased competition in the lending space, ...

The embattled wealth giant has lodged its defence to the shareholder class action filed by Quinn Emanuel in May, contesting allegations of failed disclosure to the market.