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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
August 2024
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.
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.
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.