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Page 142 - ஆஸ்திரேலிய விவேகமான ஒழுங்குமுறை அதிகாரம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Asian Markets Mostly Lower On Coronavirus Concerns

Asian Markets Mostly Lower On Coronavirus Concerns CANBERA (dpa-AFX) - Asian stock markets are mostly lower on Tuesday as optimism about coronavirus vaccines was offset by worries about the impact of new lockdown measures amid the surging coronavirus cases in the U.S. and other parts of the world. While the coronavirus death toll in the U.S. reached 300,000, coronavirus cases are surging in Japan and South Korea. Meanwhile, Germany, London, the Netherlands and the Czech Republic are imposing stricter lockdowns. The Australian market is declining following the mixed cues from Wall Street. Worries about rising Australia-China tensions also weighed on the market following reports that China has formally banned imports of Australian coal.

APRA reverses ADI dividend restriction

Mortgage Business APRA reverses ADI dividend restriction By Malavika Santhebennur 16 December 2020 The prudential regulator will no longer require banks to retain a minimum level of earnings since the economic outlook has improved, but has warned banks to remain vigilant. In July this year, the Australian Prudential Regulation Authority (APRA) updated its capital management guidance for banks and insurers, which recommended that banks should retain at least half their earnings and reduce dividends to investors, among several other changes, to ensure their resilience in an uncertain economy. APRA has now updated its capital management guidance and replaced this recommendation, with banks no longer required to retain a minimum level of earnings from the start of 2021.

A review of things you need to know before you go home on Tuesday; no retail rate changes, confidence up, MM jumps, tractor sales low, eyes on bank dividends, swaps & NZD little-changed, & more

Aussie regulator ASIC has investigated school banking programs. It found these programs claim to help children develop long term savings habits; however, providers were unable to demonstrate that in and of themselves they improve savings behaviour. They also found payments to schools for implementing school banking programs incentivise schools to encourage greater participation in the programs. Another finding is that young children are vulnerable consumers and are exposed to sophisticated advertising and marketing tactics by school banking program providers. And finally, ASIC said school banking program providers failed to disclose that a strategic objective of these programs is customer acquisition.

Reason for Australian bank s flop | Whitsunday Times

Neobank Xinja blames coronavirus pandemic for its flop Technology by Gerard Cockburn 16th Dec 2020 8:56 AM Digital-only bank Xinja will close its savings and transaction accounts, saying the pandemic had stifled its ability to attract new investors. The neobank, which launched in 2019, said on Wednesday it would close its Xinja bank and stash accounts, saying capital raising initiatives had become impossible because of the economic impacts caused by the coronavirus pandemic. At the beginning of 2020, Xinja advertised a lucrative 3 per cent savings rate on its deposit accounts that was initially retained after the Reserve Bank clipped the cash rate twice in March due to the lockdown.

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