Barrett warned the price rises would not last. We expect house prices to unwind in an orderly manner in the coming year despite prices and transactions soaring in recent months. We anticipate that credit losses at New Zealand banks will remain relatively low at about 0.30 percent of gross loans and advances over the next two years.
Barrett said the banking system s reliance on overseas markets for finance left it vulnerable to periods of economic, financial or liquidity distress, such as a sudden drop in house prices. The New Zealand banking system s relatively low level of customer deposits and its sizeable dependence on net external borrowings remain key ratings weaknesses compared with other banking systems.
Mortgage Business
RLO changes could boost turnaround times: Westpac By Malavika Santhebennur 16 April 2021
The major bank’s CEO has reiterated that responsible lending changes could simplify the lender’s processes and improve mortgage approval times.
Westpac CEO Peter King appeared before the economics standing committee hearing during their ongoing Review of the Four Major Banks and other Financial Institutions on Thursday (15 April), where he was asked what impact the changes to the responsible lending obligations (RLO) would have on Westpac’s customers, including potential future customers.
The National Consumer Credit Protection Amendment (Supporting Economic Recovery) Bill 2020 focuses on amending the credit laws so that they remove RLOs and extend the best interests duty to more credit assistance providers, among o
This core attribute has forever characterised the heart of the best of Australia’s advice community. Moving forward, it will stand the test of time as the most enduring quality trait of committed, professional advisers operating in the world’s most stringently monitored and regulated advice environment.
My following comments were written with risk-specialist advisers in mind, but also largely apply to financial planners.
THE PAST 50 YEARS AND MORE
It is instructive to look back to the ‘beginning’ to understand the root cause of the reputation issues that have fallen at the feet of financial advisers, often without due cause.
Member engagement needs to be back at the top of the agenda moneymanagement.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneymanagement.com.au Daily Mail and Mail on Sunday newspapers.
Citi puts Australian retail bank up for sale
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Banking giant Citi has put its Australian retail banking assets on the auction block, as part of a global move to focus on businesses with greater potential for growth and higher returns.
Citi, which is the fifth-largest issuer of credit cards in the country, on Thursday night said it would remain in Australia but it would focus on areas including investment banking, commercial banking, markets and trade services.
Citi has put its Australian consumer businesses on the block.