Economy

Non-bank lender Firstmac has priced $500 million in residential mortgage-backed securities (RMBS) at 150 basis points over the bank bill swap rate.

ASIC chairman Greg Medcraft has announced he will not seek a further term as chairman of the International Organization of Securities Commissions (IOSCO).

A second property organisation has come to the defence of investors in the wake of the industry’s debate on housing affordability, and has outlined two strategies to tackle the issue.

Increasing regulatory capital requirements could erode the strategic importance and creditworthiness of the big four banks’ subsidiaries, according to a major credit ratings agency.

The Australian Bankers’ Association (ABA) has appointed an independent expert to oversee the implementation of recently introduced measures by banks to protect consumer interests.

Standard & Poor’s (S&P) has assigned a AAA credit rating for three classes of Firstmac’s prime residential mortgage-backed securities (RMBS).

With bank culture under increasing scrutiny, one chief executive has identified the disconnection between what a company says its culture is and how it actually behaves.

Marketplace lending platform DirectMoney has been forced to offload some of its business to another lender to cope with an excess of loan applications.

Moves by governments and banks that make it more difficult for foreign investors to purchase new property could lead to higher prices, one real estate group has warned.

HSBC Australia chief economist Paul Bloxham says this month’s RBA rate cut was a close call, and the central bank is likely to wait until the second quarter inflation figures are published ...