Date Time
APRA announces aggregate Committed Liquidity Facility available to ADIs from 1 April
The Australian Prudential Regulation Authority (APRA) has issued a letter to authorised deposit-taking institutions (ADIs) announcing updated aggregate amounts for the 2021 Committed Liquidity Facility (CLF) established between the Reserve Bank of Australia (RBA) and certain locally incorporated ADIs that are subject to the Liquidity Coverage Ratio (LCR).
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Xinja needs $5 million to launch new products, faces investor pushback
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Xinja chief executive Eric Wilson says he needs to raise around $5 million over the next 12 months to launch a new finance product aimed at Millennials, but warned there was a risk the venture may be unsuccessful.
The comments came as the fallen neobank faced an investor push back over a motion to rename the company during a virtual shareholder meeting held on Wednesday.
Xinja is first Australian bank to return all customer deposits.