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Westpac sets aside $900m for AUSTRAC proceedings

The major bank is making provisions for a $900-million penalty in its AUSTRAC case, but has not yet accounted for loan impairment provisions due to COVID-19.

Westpac
LATEST PODCAST: Lenders revise their risk appetites

The Mortgage Business Uncut podcast is your weekly analysis of the biggest themes shaping the Australian mortgages market.

LATEST PODCAST: Lenders revise their risk appetites
Responsible lending not a barrier to switching loans to IO: ASIC

The corporate regulator has confirmed that responsible lending obligations are not a barrier to making variations from P&I to IO terms if consumers want to reduce their repayments in the ...

Responsible lending not a barrier to switching loans to IO: ASIC
Lending ‘momentum’ offsets dip in BOQ earnings

The non-major has continued to recover lost ground in the home lending space. However, a rise in interest income has not been enough to prevent the bank from recording a slide in cash ...

BOQ
Commercial rent relief code revealed

The government has unveiled its previously announced commercial leasing code of conduct, which aims to protect tenants and landlords facing financial hardship amid COVID-19.

Commercial rent relief code revealed
Senator calls on lenders to convert loans to IO

Liberal senator for WA, Dean Smith, is calling on lenders to convert principal and interest home loans for investors into interest-only repayments during the COVID-19 pandemic, to act as ...

Senator calls on lenders to convert loans to IO
ANZ executive reappointed to Takeovers Panel

The federal government has announced several changes to the Takeovers Panel, which include the reappointment of an ANZ executive and the appointment of Macquarie Group executive.

ANZ executive reappointed to Takeovers Panel
Westpac appoints permanent replacement for Hartzer

The big four bank has announced the appointment of a group chief executive officer to permanently replace Brian Hartzer.

Westpac appoints permanent replacement for Hartzer
Home-lending backdrop to slow slide in property prices

Low interest rates and mortgage repayment relief measures could “insulate” residential property prices from a looming “plunge” in housing market activity, according to CoreLogic.

Home lending backdrop
ANZ takes pre-virus mortgage hit

New APRA data has revealed that ANZ was the only big four bank to record negative home lending growth before the coronavirus outbreak altered the trajectory of the domestic economy.

ANZ
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