Yesterday
Non-bank lender Fair Go Finance secures $125m warehouse
Perth-based consumer non-bank lender Fair Go Finance has almost doubled its existing loan origination capacity.
Pepper warns of private credit collateral damage to non-bank lenders
The KKR-backed mortgage and business financier said it put its own loan book under considerable scrutiny, and the sector was being tainted by bad operators.
This Month
APRA warns banks of looming lending curbs to reduce housing debt risks
The prudential regulator said it had found “signs of a pick-up in higher risk lending” and is engaging with the big banks on new rules to slow it down.
Humm independent director Andrew Darbyshire didn’t ratify accounts
The refusal suggests deep board division and delayed the release of the company’s results, as it also fielded a $286 million bid by chairman Andrew Abercrombie.
October
ASIC halts private credit scheme over disclosure concerns
The corporate regulator has issued interim stop orders to prevent any retail investors from pouring money into products promoted by non-bank lender TruePillars.
September
Non-banks under ASIC scrutiny for treatment of vulnerable borrowers
A new industry code of conduct will take effect this week, following ASIC’s legal action against a lender over its treatment of vulnerable customers.
Longo says La Trobe should have seen stop orders coming
The ASIC chair also said the corporate regulator was worried about the private credit sector’s over-exposure to real estate.
Ratings agency Lonsec downgrades Metrics funds on governance concerns
The firm is the country’s ninth-largest business lender, and the changes have implications for financial advisors recommending key credit funds to investors.
July
Beware the coming crypto crisis
Bitcoin, one of the digital assets banks may lend against, has been nearly four times as volatile as major indices since 2020.
June
Helia reviewed ‘circumstances’ of CEO’s share sale before departure
Helia, formerly known as Genworth, quietly investigated its CEO Pauline Blight-Johnston over the sale of shares before the loss of a major contract and her resignation.
Why Afterpay could be coming to a supermarket checkout near you
Eight years after the first calls to bring BNPL under credit laws, Nick Molnar says the new regime will help it compete more aggressively with credit cards.
April
Brookfield lifts the lid on $3b La Trobe’s riches; roadshow commences
The business has been pitched as “highly profitable” with EBITDA margins of 71 per cent and a return-on-equity of greater than 70 per cent.
March
Impact investor Good Return, backed by Spotless scion, preps new fund
The new fund’s minimum investment size is $20,000 and proceeds would be used to guarantee and de-risk loans from lenders to female-led businesses.
Brookfield-backed La Trobe selects advisers for strategic review
Morgan Stanley and UBS were appointed in recent days to canvass options for the firm, which has $20 billion in assets under management.
Australia must heed turning tide of banking regulations abroad
APRA’s regulatory mission creep is unlikely to help banks and insurers compete more effectively against nimble start-ups and tech giants expanding into financial services.
CBA says responsible lending rules shield it from rampant liar loans
The bank’s retail boss, Angus Sullivan, says there are, however, “a few areas” where a banker could coax someone through an application, so it needs to remain alert.
October 2024
Goldman Sachs refinances Pallas Capital’s $500m facility
It comes after Pallas in July lured Westpac NZ to refinance a $NZ400 million facility focused on Kiwi small-to-medium enterprise borrowers.
Banking regulator rejects calls to cut home loan interest rate buffer
APRA chairman John Lonsdale has hit back at the Australian Banking Association at a parliamentary hearing on Friday.
Calls to reduce 3pc home loan bank buffer test
The Australian Banking Association says more people will be able to access the property market if the prudential regulator is more flexible.
Revealed: How much Australia’s private credit sector is really worth
The industry’s risks to Australian financial stability are low, the RBA says. But plenty of information gaps remain, and regulators are playing catch up.