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Clancy Yeates

April 2016

Bank reputation concerns drove change on conflicted pay, says Bendigo Bank

Banks are taking action on conflicted payments to staff because the industry realised it was not living up to the community's expectations.

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Banks are broadly supportive of  changes which would allow ASIC to control high risk financial products.

Banks open to ASIC veto on products

Banks are willing to accept changes that would allow the corporate watchdog to control more tightly or even ban the sale of higher risk financial products that threaten to harm consumers.

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While the Dow moves form record to record, the ASX remains stuck below 5800 points.

Big four banks should fear a downgrade to Australia's credit rating

The loss of Australia's AAA credit rating is more dangerous for the banking sector than the federal government.

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February 2016

Australia's big banks slap down claims of bad underwriting practices

The major banks slapped down claims that their underwriting practices are poor or that mortgage brokers are encouraging borrowers to lie.

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Commonwealth Bank facing some headwinds, say analysts

Banking analysts have given CBA's interim results the thumbs up but have highlighted "soft" capital generation, higher costs, and ongoing margin pressures as issues to watch.

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Commonwealth Bank

Commonwealth Bank of Australia profit rises 4pc to $4.8 billion

Commonwealth Bank's half-year profit rose 4 per cent, to $4.8 billion, and the bank will keep its interim dividend unchanged at $1.98 share.

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Big Four routed as global banking fears take hold

Australian banks led a rout that wiped more than $40 billion off the sharemarket amid fears that lenders around the world will be hit by higher funding costs, rising bad debts, and slower growth in emerging economies.

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If banks pass on costs to customers, they risk losing them to a rival offering cheaper rates.

Will banks ignore the RBA and dance to their own interest rates tune in 2016?

Official interest rates set by the RBA are only part of the story for customers.

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January 2016

Bumpy ride might continue for ANZ investors

ANZ Bank investors have been feeling the pain lately, as markets fret over its exposure to slowing Asian economies and the prospect of a dividend cut.

Major changes to negative gearing will make housing investment less attractive.

Banks get picky with mortgage deals, awarding cashed-up owner-occupiers

Owner-occupiers with big deposits enjoy mortgage interest rates up to half a percentage point less than other types of borrowers in the home loan market, research shows.

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Barclays will quit the Australian market with about 80 staff set to lose their jobs.

Barclays pulls out of Australian market

Barclays has executed a rapid exit from the Australian market, as the investment bank seeks to cut costs by slashing jobs across the Asia-Pacific region.

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Banks' profit growth is set to slow further in 2016 as lenders' bottom lines feel the impact of more borrowers falling behind on their loans.

Australian banks to see weaker profit growth in 2016: Fitch

The banks' bottom lines will feel the impact of more borrowers falling behind on their loans, credit agency Fitch Ratings says.

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Rewards: Commissions paid to mortgage brokers are in the spotlight.

Maximum loan sizes slashed: how banks are cracking down on borrowers

Banks have lopped tens of thousands of dollars off how much they are prepared to lend home buyers, new figures show.

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December 2015

Your guide to shares in 2016: healthcare, property and banks

What the experts expect from healthcare, property and the banks.

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Top stockpicer Brian Johnson remains cautious on the banking sector, though he's less pessimistic than he was six months ago.

CLSA's Brian Johnson is the best stockpicker of 2015

In the Thomson Reuters StarMine analyst awards CLSA's Brian Johnson outperformed his benchmark by 22 per cent.

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Financial advisers will be subject to stricter educational and ethical standards over the coming years.

New laws target financial planner ethics and education standards

The government will require all new financial planners from 2017 hold a degree, pass an exam and spend a year developing their professional skills under new proposed laws.

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November 2015

Commonwealth Bank has apologised to some of its life insurance customers.

CBA to pay out $80 million in refunds

CBA, the country's most profitable bank, will refund $80 million to customers for not honouring discounts, the third bank this year paying back money for its mistakes.

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'Oversold' ANZ shares soar as UBS upgrades to 'buy'

ANZ Bank shares are enjoying a rare break from the recent gloom surrounding banks, rising 2.9 per cent to $26.29, the biggest increase of the big four.

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'For Australian banks, this means we continue to operate in a 'lower-for-longer' environment with modest credit growth, intense competition, and some ongoing regulatory uncertainty,' says Westpac chief executive Brian Hartzer.

Westpac confirms $7.8b profit, says banks stuck in 'lower for longer' economy

Westpac said loan growth helped push its full-year cash profit up 3 per cent to $7.82 billion, saying after resource-driven growth, the country's banks were stuck in a "lower-for-longer" environment.

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Banks would pass on the bulk of any official rate cut to borrowers, analysts say.

Big banks tipped to pass on most of any RBA cut

If the Reserve Bank lowers official interest rates to a new record low on Melbourne Cup day this week, analysts say big banks would pass on the bulk of the cut to borrowers.

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Original URL: https://www.afr.com/by/clancy-yeates-hveh2