Tag Archive: banks

APRA fires shot across banks’ bows

Posted on September 11, 2013 by | 0 Comments
The opening stanza in the Australian Prudential Regulation Authority’s “macro-prudential” campaign to cauterise any credit-fuelled housing bubble has arrived, as predicted by The Australian Financial Review. APRA is anxious deposit-takers will relax lending standards to foster faster credit growth in a bid to maintain our banking system’s internationally high profitability. And it is concerned these decisions may be encouraged by the cheapest borrowing rates in history and a nascent housing boom. House prices in Sydney are...

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Forget the Insurers, Let’s Blame the Banks

Posted on February 15, 2011 by | 7 Comments
OPINIONby Tim O’Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au   The blame for many uninsured property and financial losses resulting from floods and from Cyclone Yasi can be sheeted home to banks, building societies, credit unions  and other lenders. Never mind the much-vilified insurance companies whose doubly-devastated policy-holders have found themselves not covered for flood or storm surge damage.  While more than a few insurers may have failed to demonstrate any “utmost good faith” towards their policy-holders,...

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Stamp Duty, Banks and the Old Responsibility Hot Potato

Posted on October 17, 2008 by | 0 Comments
by Shannyn HunterConveyancer shannyn@lawyersconveyancing.com.au Lawyers Conveyancing  Since the State Revenue Office (SRO) made changes to the stamp duty payable on property purchases earlier this year, many clients have contacted us with questions about how much stamp duty they will pay, where to get the form for a concession and where to send it. Previously, when clients asked for help they were directed to their bank (if they were getting a loan), because their bank calculates the...

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