The Australian Securities and Investments Commission is preparing to take action against banks... Best conditions for builders in 6 years...
Major banks 'tight-lipped' as ASIC cracks down
The Australian Securities and Investments Commission is preparing to take action against banks alleged to have manipulated the bond market's key benchmark interest rate and the lenders are being 'tight-lipped' about it, The Australian Financial Review reports.
The corporate watchdog is set to take court action against ANZ Banking Group and 10 traders, the culmination of a multi-year investigation into misconduct in setting the bank-bill swap rate or BBSW.
A NAB spokesperson also said the bank "is co-operating with ASIC as part of its industry-wide investigation".
A spokeswoman for Westpac said the lender "along with a number of banks, is continuing to cooperate with an industry-wide investigation by ASIC into trading practices relating to the bank bill swap rate".
Commonwealth Bank declined to comment.
In depth: What top brokers look for in new recruits
Best conditions for builders in 6 years
Rising home sales in Queensland are only good news for builders, providing the best conditions in six years, according to an article in the AFR.
The rise in sales is due to banks opening up funding and buyers looking to take advantage of the value in house and land packages.
2155 more houses were approved for building in Queensland over December, up 13.4 % in November and the biggest month since January 2010, according to the Australian Bureau of Statistics.
"We see Brisbane in the process of catching up to where the other states have been – the only question is whether the state can keep up the jobs growth," said Villa World managing director Craig Treasure.
"There has been no trouble following the change in macro prudential regulation on bank lending and the low interest rates are helping owner occupiers. I can also say that there are very few people in the north and south of Brisbane who want to downsize into an apartment close to the city. They still want a backyard."
In depth: How peer-to-peer lending might impact the mortgage industry
The Australian Securities and Investments Commission is preparing to take action against banks alleged to have manipulated the bond market's key benchmark interest rate and the lenders are being 'tight-lipped' about it, The Australian Financial Review reports.
The corporate watchdog is set to take court action against ANZ Banking Group and 10 traders, the culmination of a multi-year investigation into misconduct in setting the bank-bill swap rate or BBSW.
A NAB spokesperson also said the bank "is co-operating with ASIC as part of its industry-wide investigation".
A spokeswoman for Westpac said the lender "along with a number of banks, is continuing to cooperate with an industry-wide investigation by ASIC into trading practices relating to the bank bill swap rate".
Commonwealth Bank declined to comment.
In depth: What top brokers look for in new recruits
Best conditions for builders in 6 years
Rising home sales in Queensland are only good news for builders, providing the best conditions in six years, according to an article in the AFR.
The rise in sales is due to banks opening up funding and buyers looking to take advantage of the value in house and land packages.
2155 more houses were approved for building in Queensland over December, up 13.4 % in November and the biggest month since January 2010, according to the Australian Bureau of Statistics.
"We see Brisbane in the process of catching up to where the other states have been – the only question is whether the state can keep up the jobs growth," said Villa World managing director Craig Treasure.
"There has been no trouble following the change in macro prudential regulation on bank lending and the low interest rates are helping owner occupiers. I can also say that there are very few people in the north and south of Brisbane who want to downsize into an apartment close to the city. They still want a backyard."
In depth: How peer-to-peer lending might impact the mortgage industry
