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.
- Sarah Thompson, Kanika Sood and Emma Rapaport
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.
- James Eyers
- Exclusive
- Big four
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.
- James Eyers and John Kehoe
- Opinion
- Chanticleer
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.
- James Thomson
- Exclusive
- Pubs
Five of Jon Adgemis’ former venues to hit the market
Colliers have been appointed to market a large chunk of the former KPMG dealmaker’s pub empire, Public Hospitality.
- Primrose Riordan
Cashed-up NSW coal power owner jilted by banks
Sev.en Global’s Delta has requested an urgent change to the rules for the electricity market after being unable to extend a bank guarantee because of its coal links.
- Angela Macdonald-Smith
NAB calls for lower home loan buffer to help first-time buyers
In a submission to the Senate inquiry, NAB says dropping HECS-HELP debt from serviceability calculations for first home buyers would boost borrowing capacity.
- James Eyers
Banks blocked from factoring in rising income when assessing loans
A bank boss says it is “absurd” that regulations prevent expectations that a young, professional borrower’s income will rise after they apply for a home loan.
- Updated
- James Eyers
- Analysis
- Home loans
Buffer or blocker? Why APRA’s serviceability rule is so controversial
CBA boss Matt Comyn has defended APRA’s prudential settings from political attacks, saying housing policy must focus on supply.
- James Eyers
Credit score agencies combine, creating Australia’s newest duopoly
Experian has completed its $820 million acquisition of Illion, which Experian’s CEO says will help banks assess credit risk more dynamically.
- James Eyers
September 2024
Open banking limps to life with ANZ customers seeking full picture
ANZ is the first major bank to use open banking to aggregate multiple accounts through its app. Ultimately, it will be used as a tool to lure new customers.
- James Eyers
Private credit creeps past 10pc of business lending, RBA says
The rapid take-off in opaque private credit lending has prompted concerns in some pockets of the financial system.
- Lucas Baird
- Opinion
- Chanticleer
McCann’s first trick at Star is to buy time, next he needs performance
Star Entertainment’s board hired Steve McCann for his deal nous. He had to call on it sooner than we all expected.
- Anthony Macdonald
August 2024
- Exclusive
- Credit crunch
Melbourne private capital firm lands in ASIC’s line of sight
Oak Capital describes itself as a “mid-tier” non-bank lender and specialises in real estate financing. The regulator has stepped up it scrutiny of the sector.
- Primrose Riordan and Aaron Weinman
Overdue loans swamp private credit giant lending to Sydney’s wealthy
The local lender has previously written loans for some of Sydney’s most colourful businessmen. Growing arrears aren’t always made clear to its investors.
- Primrose Riordan, Aaron Weinman and Jonathan Shapiro
- Opinion
- Chanticleer
Euro summer madness is making markets look extreme
It’s easy to forget what day-to-day life looks like on the other side of the world at the moment. But it is an important part of the market sell-off story.
- Anthony Macdonald
July 2024
Trim mortgage ‘risk weights’ to help first home buyers: Barrenjoey
Barrenjoey called on APRA to allow banks to reduce mortgage “risk weightings” for first-time borrowers and for ASIC to drop HECS debt from responsible lending.
- James Eyers
Booming Cash Converters revenues point to squeeze on the poor
The ASX-listed pawnbroker told investors the increase was partly tied to “mainstream finance” being “more difficult to access” for many of its customers.
- James Eyers
Beaconsfield says Keystone demands forced receiver appointment for NQH
The US investment manager says it was forced to appoint receivers after Keystone Asset Management demanded immediate repayment of a $15 million unsecured loan.
- Max Mason
This private credit fund is going big on companies failing ESG tests
Balmain Corporation said it had considered calling the strategy a “Vulture Series” – but decided naming it after a different bird of prey was more appropriate.
- Primrose Riordan