News

New research from Roy Morgan shows an estimated 854,000 mortgage holders (19.4%) were ‘At Risk’ of ‘mortgage stress’ in the three months to July 2022. The poll shows mortgage stress still remains below long-term averages, but it is rising.

UK Finance is the collective voice for the UK’s banking and finance industry. Representing over 300 firms across the industry, it acts to enhance competitiveness, support customers and facilitate innovation.

The Board decided to increase the cash rate target by 50 basis points to 2.35 per cent. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 2.25 per cent.

“if inflation turns out to be six per cent or seven per cent again next year, interest rates are going to have to be much higher”

A bill that would regulate crypto exchanges and stablecoin issuers and place disclosure duties on Chinese banks dealing with digital yuan in Australia.

The World Bank says worldwide bank account ownership is now 76%.; Underemployment August 2022: Females 7.1%, Males 4.8%; Review of the Reserve Bank of Australia released an Issues Paper

“With employment increasing by 33,000 people and unemployment by 14,000, the unemployment rate rose 0.1 percentage points to 3.5 per cent in August, returning to the same rate as June.”

“frothy markets such as Australia and Canada are facing double-digit house-price declines, and economists believe the worldwide downswing is only getting started.”

APRA released an information paper for a multi-year program to modernise the architecture of prudential standards and guidance for banks, insurers and superannuation funds.

Including banks’ financed emissions moves them into the top 15 heaviest emitters on the ASX, in the company of heavy emitters such as Ampol, Qantas and BlueScope.

Cash rate increases I Climate bill passes I FAR & CSLR introduced

The ABA host KWM in exploring APRA’s crisis preparedness and resolution frameworks including their likely impact on banks and how best to prepare.