According to Australian Prudential Regulation Authority chairman John Laker, bank funding markets are already demonstrating some crisis-like features.
APRA
Australia now needs to fill a $130 billion dollar hole
Around 40 of Australia’s biggest financial deposit taking groups will get lender of last resort facilities from the Reserve Bank, just as banks did years ago, and just as they did in the December quarter of 2008 when the GFC was shutting down world and local markets.
Hockey to Labor: get serious about banking reform
Joe Hockey has outlined an ambitious reform agenda for banking regulation. Now over to the Treasurer. That’s you, Swanny.
Super: why it’s better to be an employee than a customer of a bank
APRA’s superannuation league tables are out again, revealing the sea of red ink caused by the GFC. All the biggest funds turned in dire results, but the in-house bank employee funds fared better. Why?
APRA says our Big Four banks ‘too big to fail’
Tomorrow, the Reserve Bank produces the first financial stability report for 2010 and it is expected to be solid, without anything to frighten the still-skittish horses in the financial paddocks.
Business As Usual: Heroic work at Fairfax … Insurance slug on the way … Party poopers in the UK
Heroic cost-cutting at Fairfax Media; insurance costs ready to rise; the job market conundrum for the ageing; Chinese bankers take a new tack; and it’s still the status quo in the UK … that’s grey skies in case you were wondering.
APRA fails on fat cat pay
Yesterday, APRA formally released prudential standards and a practice guide for corporate governance requirements. Sadly, the “minimum foundations” stated by APRA are either obvious, already in practice or won’t have any actual effect on curbing the scourge of “extreme capitalism”.
‘KangaSupa’ a one-shot wonder for many policy ills
A capital guaranteed national superannuation fund that only invested in fixed income securities would actually serve as an effective surrogate for a publicly owned bank, writes Christopher Joye.
Dirty secrets of the retail super industry
ANZ’s purchase of the remainder of ING, and new rumblings about ANZ or another major acquiring AMP, shine a light on one of the dirty secrets of the retail superannuation industry: how much control the banks have.
Wayne Swan rings hollow on executive pay
Treasurer Wayne Swan and Prime Minister Kevin Rudd certainly know how to make the right noises about excessive executive pay. But will we see more than talk on the issue?
APRA squibs it on executive pay
The Australian Prudential Regulation Authority has drastically watered down its executive pay guidelines, so financial executives can once again rest easy.
Can the ASIC regulatory tiger grow teeth?
Will the new market trading, monitoring and control system be as transparent and open about its regulatory actions as the ASX has become this year?
NAB’s grubby $2 billion cash grab
The way shareholders got preferential treatment yesterday from the NAB, which wanted to raise $2 billion quickly, but then “stagged” most of the shares and took a free profit, was disgusting.
New liquidity rules to lift the cost of banking
Australian regulators are discussing a new system of liquidity rules for the Australian banking system that will force the banks to protect themselves against higher interest rates in times of crisis.
Your Say: Daily Mail readers' feedback: Hypocrisy of swine flu treatment
Crikey readers chat swine flu, digital radio and the ACTU.
APRA falls flat in face of executive pay bonanza
The new APRA standards will be little more than lip service to the insatiable remuneration packages enjoyed by executives at the large banks.
Tax changes hardly worthy of mass hysteria
The executive pay debate rolls on, with APRA announcing yesterday that it will delay release of its long-awaited executive pay principles for the financial services sector.
The league tables Big Super doesn’t want you to see
The retail superannuation industry is likely to fail in its efforts to derail Government plans for greater reporting of fund performance.
Macquarie’s 1.7% tax rate rort
Did Macquarie Bank actually make a profit in the year to March?
APRA turns the screws on finance sector executive pay
APRA has given a sneak preview of its coming review of executive pay.
Richard Farmer’s political bite-sized meaty chunks
Meaty snippets from the home of government plus the daily reality check and the pick of other people’s political coverage. Richard Farmer writes.
Millionaire Factory rebounds but the Fortress falls further
The market has bounced back on the coat-tails of a Wall Street bounce this morning but there was one notable exception – Macquarie Fortress Notes.
