APRA
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Victorian budget
The multibillion-dollar blow primed to hit Victorian taxpayers and the budget
Government agencies will fork out $15 billion a year for insurance claims by 2028, a 36 per cent surge that threatens to rock the state’s already struggling finances.
- by Kieran Rooney
Latest
Tsunami of financial distress a sad indictment of society
The lending rules of our banks have contributed to the mortgage crisis people now face. When interest rates were at record lows, banks were only too willing to allow borrowing. They surely would have been aware this would be unsustainable when interest rates inevitably rose.
BOQ profits stifled as inflation, higher funding costs shred margins
The bank unveiled a cash profit of $172 million in the six months to February 29, down 33 per cent compared to the first half of last year.
- by Sumeyya Ilanbey
Bank profit margin crunch to continue as customers shift deposits
Bank margins will continue to dwindle in the first half of this financial year, analysts say, as customers move their savings into higher-interest offerings.
- by Millie Muroi
Pressures grow as more buyers fall behind on their mortgages
Economic regulators are reporting an increase in the number of Australians falling behind on their monthly mortgage repayments.
- by Shane Wright
Bank branch closures roll on as cash usage declines
More than 1400 bank branches have closed in Australia since 2017. But there are key reasons why it’s important for banks to maintain their physical presence.
- by Millie Muroi
‘Not like a Bali holiday’: Crippling HECS debts spark calls for home loan overhaul
Universities Accord panel chair Dr Mary O’Kane has urged authorities to look at the impact of HECS-HELP on home loan assessments as young people struggle to enter the housing market.
- by Angus Thompson
The Australian ‘banks’ of sovereign citizens – and the havoc they wreak
Creditnet Bank Internationale has no office and does not take deposits from consumers. Yet the group has found itself at the centre of controversial moments in Australian corporate history and an attempted $25 billion fraud on the nation of Palau.
- by Sarah Danckert
Analysis
Superannuation
ASIC warns workers ‘left in the dark’ on poor performing super
Financial planners and super funds are not doing enough to address underperformance of superannuation investment options.
- by John Collett
Regulators eye household debt risks as late payments edge up
Australia’s high level of household borrowing could pose risks to the economy as late payments tick up according to the country’s financial regulators.
- by Millie Muroi
More Australians take up private health insurance despite cost-of-living squeeze
Poor perceptions about the public health system and surgery waitlists are helping drive the trend.
- by Natassia Chrysanthos and Colin Kruger