Australian Banks And Economy Face Downturn From A Position Of Strength

Impairment charges are an indicator of the health, or otherwise, of a banking system.

Stocks Rise As Banks Find Room To Move Amid Falling Interest Rates

STOCKS rallied for a second day running, even as more details emerge of the impact of the credit crunch on the wider Australian economy.

Cautious Kelly Bets On Avoiding The Worst

EVEN by its own standards as one of the most conservatively run and risk-averse banks, Westpac's latest profit announcement makes for sober reading.

Big Banks' Profits Hit 15-year Low

THE five big Australian banks are set to enter a period of increasing global market turmoil, after posting their worst collective profit results in 15 years.

Pm's Latest Plan: Banks To Bail Out Non-banks

PRIME Minister Kevin Rudd has called on Australia's banks to consider advancing money to troubled financial institutions.

Rudd Suggests Banks Should Help Non-banks

PRIME Minister Kevin Rudd has called on Australia's banks to consider advancing money to troubled financial institutions.

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Mortgage Funds Plead For Help

MORTGAGE funds will today ask Treasurer Wayne Swan to guarantee them as he has guaranteed the banks, but they are almost certain to be refused.

Three Years Before Full Bank Merger

WESTPAC will have to wait three years before combining its retail outlets with those of St George, after Treasurer Wayne Swan approved the merger of the two banks.

Allco One Short Step From Calling In Administrator

ALLCO FINANCE GROUP could be in voluntary administration by the end of next week if its banks do not extend the repayment schedule on its debt, the chief executive, David Clarke, said.

Administration Nears

ALLCO FINANCE GROUP could be in voluntary administration by the end of next week if its banks do not extend its deadline to repay debt, chief executive David Clarke said.

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Quick Accounting Shift Draws Fire

BANKS and finance companies stand to benefit after Australian accountancy standards were swung into line with US practices yesterday.

Businesses Happier With Their Banks

AUSTRALIAN businesses' satisfaction with major financial institutions has increased by almost 10% over the past year, according to a national study.

Banks Circling As Allco Asset Sales Fall Through

THE continuing fallout from the global financial crisis yesterday saw Allco Finance Group again throw itself on the mercy of its bankers, after it revealed it was in danger of missing its next two key debt repayments.

Credit Crisis Averted by Bank Deposit Guarantee

The recent announcement by the Government to guarantee all Australian Bank deposits was unprecedented in Australia and many first world economies. This extraordinary action was extremely effective in producing the desired result. It was as they say a massive dose of "Bex and a good lie down".

Funds Run Against Gravity To Guaranteed High Ground

Treasury has put its balance sheet and its credit rating at risk by guaranteeing the wholesale funding requirements of the banks.

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Our Enviable Bankers Line Up To Boast Billions On Books

It seems apt in a US presidential election year to paraphrase a Clinton mantra for the pinched situation in which our big banks now find themselves as the economy turns south at an alarming rate.

Further Rate Cuts On Cards

FURTHER across-the-board cuts in lending rates are expected as the major banks switch their focus from the hard-pressed housing market to the wider business sector in an effort to avoid the credit crunch-hit economy slipping into recession.

Two Down, 2 To Go: Nab Joins Anz In Rate Cut

FURTHER across-the-board cuts in lending rates are expected as the major banks switch their focus from the hard-pressed housing market to the wider business sector in an effort to avoid the credit crunch-hit economy slipping into recession.

Home loans and superannuation during the credit crisis

Learn about what you can do to mange your home loans and improve your superannuation.

Next Time Send A Text Message, Mark. Roger That

THE Australian economy is about to be "completely roggered" (sic) and there will be no regional banks left by the end of the year, according to the Liberal Party's chief pollster and strategist Mark Textor.

Fels Fears For Competition Among Banks

AUSTRALIA'S big banks should not be able to swallow their smaller rivals despite the global financial crisis, the former head of the competition watchdog has warned, calling on the Government to intervene if any more such takeovers emerged.

With Confidence, Rudd's Ready To Show Them How

The answer, everyone agrees, is confidence. That's what the world lacks. That's why there's an international financial crisis. We need to have more confidence in governments, in central banks and national regulators, in trading banks and financial institutions, and in markets. Confidence to keep money moving, investors investing, consumers spending and businesses in business. Confidence enough to keep panic at bay. And when it comes to confidence, the Prime Minister, Kevin Rudd, is just the man ...

Rates Cut In Bank Vote Of Confidence

ONE of the big banks has given the Federal Government's handling of the economic crisis a thumbs up by cutting its interest rates another 0.25 percentage points.

Rudd Makes It Too Easy For Big Banks

Adapting Kerry Packer's famous quip, the big Australian banks will only get one Kevin Rudd in their lifetime. And they are making hay, emerging as the most underwritten and overprotected companies in Australia.

Recession? What's a recession?

With all the doom and gloom on the news about credit crunches and recessions it's time to take stock and take a look at what it means.

Playing Politics With The Banks

WITH Australians desperately worried about the impact of the global financial crisis on their jobs, mortgages and superannuation, it is not surprising - but it is depressing - that the Government has selected an unloved bogyman to blame and punish.

So It's ... Banks For The Memory

The regulatory regime is only a small part of why our financial system is robust, writes Tony Cole.

Feeling Stressed? Don't Worry, The Banks Are Here To Help

IN THE market for a home loan, but have no savings, a hefty debt and a below-average income?

Keynes The Key To Today's Paradigm

The economist would have backed the bail-out and the shoring up of banks, writes Alex Millmow.

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Rudd War On Bankers' Salary Deals

BANKS that offer big financial incentives to executives to engage in risky practices will be targeted by Prime Minister Kevin Rudd as part of a broader plan to tackle "extreme capitalism".

Banks Want Your Cash

Investors' deposits are now Government-guaranteed. All you have to do is find the best rate.

First home buyers grant changes

First home buyers will really benefit from changes to the first home buyers grant.

Can you afford a personal loan with a low income?

Many Australians are experiencing financial hardship at the moment.

Hatches Battened Down, Now Onus Falls On Banks

THE three-point strategy to "unclog the arteries" of the banking system has had an immediate impact, but analysts believe more details are needed.

Rudd's Guarantee Gives Suncorp Time To Rethink Plan To Sell Banking Arm

BRISBANE-based Suncorp Metway is rethinking whether to push ahead with the sale of its $6.5 billion-plus banking and wealth management arm following the Federal Government's decision to guarantee deposits and term funding for Australian banks for three years.

Hatches Battened, Now Onus On Banks

THE three-point strategy to "unclog the arteries" of the banking system has had an immediate effect, but analysts believe more details are needed.

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Battle To Save Eu Banks From 'total Collapse'

Britain and Germany are leading desperate attempts to keep Europe afloat, writes David Hirst.

Guarantee Bold Move

WHILE a measure to protect deposits will grab the headlines, the real kicker is the fiscally brave decision by the Rudd Government to guarantee all money that Australian banks borrow internationally.

Restoring Confidence Is The Clear Necessity

KEVIN RUDD'S twin assurances yesterday to guarantee all deposit accounts and the money our banks borrowed were not motivated by any information a bank was about to fall over.

Your Savings Guaranteed

DECLARING the global financial crisis had entered a new and dangerous phase, Kevin Rudd said his Government would guarantee the estimated $700 billion that Australians have deposited in banks, credit unions and building societies.

Banks Yet To Face Their Toughest Test

THE credit squeeze will end where it began - and it's a place that might surprise you.

Fears Set Investors Panicking To Grab Cash

INVESTORS are betting on a deep and sustained period of low economic growth in Western economies as banks withhold credit, prompting dramatic falls on world equity markets.

Nothing Like A Crisis To Bring Banks Back To Us

The nationalised British bank Northern Rock had to turn depositors away this week as it is in danger of breaching government limits on market share. It is now a popular destination for rational funds, mine included.

Housing Boss Forced Out After Debt Protests

THE housing industry's most powerful lobby has been forced to dump its new Victorian boss after members protested over the fact that his business owes tradesmen, banks and the building sector more than $1.5million.

Banks' Stability Beats Competition, Says Rudd

STABILITY is more important than competition in Australia's banking system, the Prime Minister said yesterday.

Housing Boss Out After Protests

THE housing industry's most powerful lobby has been forced to dump its new Victorian boss after members protested over the fact his business owes tradesmen, banks and the building sector more than $1.5million.

Sharemarket Takes A Breather

RELATIVE calm descended on the market after a succession of rate cuts and the release of the British Government's plan to partially nationalise eight major banks.

Surviving a recession

People keep mentioning the word recession and panicking, but you can get through a recession.

Overseas Action Calms Asx

RELATIVE calm descended on the sharemarket yesterday after a succession of rate cuts across the globe and the release of the British Government's plan partially to nationalise eight big banks.

Sharemarket Takes A Breather But Key Index Continues Retreat

RELATIVE calm descended on the market after a succession of rate cuts and the release of the British Government's plan to partially nationalise eight major banks.

If Markets Close, The 'breather' Might Set Banks Lending Again

Governments do not want to repeat the policy errors of the Great Depression, writes David Hirst.

Banks Regaining Monopoly On Home Loans As Mergers Continue

BANKS are increasing their stranglehold over the mortgage market just as the Federal Government considers approving two of the biggest bank takeovers in history.

So Who's Really Calling The Shots On Interest Rates?

Phillip Coorey ("Scoring 0.2 of a political point", October 8) and Alan Kohler (7.30 Report, October 7) both suggest the Reserve Bank reduced its cash rate by a full percentage point in part to ensure the four biggest banks passed on 0.5 or more to customers. If they are right, one must ask which banks are controlling monetary policy in this country?

World's Banks In Joint Action To Halt Carnage

THE world's leading central banks last night simultaneously cut their interest rates, in an unprecedented combined bid to restore confidence to the shattered global financial system.

Turnbull Rate Cut Claim All Ego: Swan

OPPOSITION Leader Malcolm Turnbull has claimed personal credit for pressuring the banks into passing on a high proportion of the interest rate cut - but the Government says the boast shows his outsized ego.

Will credit cards get lower interest rates?

The interest rate cut has got everyone talking, but some people don't realise it doesn't affect every line of credit.

Editorial Ball In Banks' Court After Shock Rate Cut

THE Reserve Bank of Australia's decision yesterday to cut its cash rate by a full percentage point stunned even the most experienced economists.

Big Banks Set To Get Bigger

AT LEAST some of the Big Four banks will emerge from the credit shake-out with an unprecedented hold on the national and state-based banking markets.

Reduced To A Few Heavy Hitters

AT LEAST some of the big four banks will emerge from the credit shake-out with an iron grip on lending markets.

Reveal Cost Of Funding: Burrow

BANKS should be forced to publicly reveal details of their cost of funding so consumers can work out whether they are being ripped off when interest rates move.

The Rba Rightly Decides It Is Time For Shock Therapy

Commercial banks ought to pass on most of the one percentage point rate cut to their customers.

Out To See The Dry, G-g Wades Into War Of Words

THE warbling of songbirds cracked through the heavy sky hanging over the Darling River yesterday as the Governor-General, Quentin Bryce, stood on the banks of the waterway at the centre of an interstate tug-of-war.

Editorial Banks Strong Enough To Pass On Rates Cut

THE Reserve Bank is widely tipped to cut interest rates today by as much as half a percentage point, but homeowners shouldn't hold their breath waiting for banks to pass it on.

RBA slashes interest rates

Originally predicted to only fall by 50 basis points, the 100 basis point drop is a welcome one.

Wall Street Softens Pm On Rates

A FIRSTHAND view of the financial crisis wreaking havoc on Wall Street was enough to shift Prime Minister Kevin Rudd's thinking on banks and interest rates.

Will banks pass on the savings to you?

If lowered rates are passed on, Australians may end up with billions in annual savings.

Wall St Softens Pm On Rates

A FIRSTHAND view of the financial crisis wreaking havoc on Wall Street was enough to shift Prime Minister Kevin Rudd's thinking on banks and interest rates.

Shock Tactics Soften Pm's View On Rates

A FIRSTHAND view of the financial crisis wreaking havoc on Wall Street was enough to shift Prime Minister Kevin Rudd's thinking on banks and interest rates.

After The Merger Frenzy, Banking Behemoths Rule

Vast banks now being created will make life difficult for regulators, writes Eric Johnston

Stressed Banks To Forgive Defaulter

A deal with the pariah, Argentina, now seems the lesser evil, writes Richard Reynolds in Buenos Aires

Swan Warns Banks Not To Borrow Too Much Time

TREASURER Wayne Swan has warned banks they must pass on the benefits to families when their borrowing rates eventually fall again, as the Government defends their creaming off some of tomorrow's expected official cut by the Reserve Bank.

Banks Must Pass On Full Rate Cut

The Reserve Bank should be motivated by the need to take pressure off small business.

Pm Branded As Banks' Buddy

AS DESPERATE home owners hold their breath for an interest rate drop on Tuesday, the Federal Opposition has demanded the Government and banks explain themselves if the full cut is not passed on.

$a Slides As Banks Fight To Buy $us

THE deepening global financial crisis has taken the Australian dollar to its lowest level since the credit crunch began, as lenders scramble for US dollars amid spiralling funding costs.

Banks May Generate Big Profits, But They Are Highly Geared And Vulnerable

The best we should hope for is they pass on about half the RBA's interest rate cut on Tuesday.

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Turnbull To Pm: Stop Grovelling To Banks

MALCOLM TURNBULL has branded Kevin Rudd "the leading apologist for Australian banks" as the Government continued to defend them against demands they pass on in full any interest rate cut made next week.

First Home Accounts Fail Value Test

THE Rudd Government's much-vaunted first home saver accounts are open, but just two of Australia's big five banks are offering them, and both of those have failed a test by the consumer group Choice for value and fairness.

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Big Four Make No Promises To Pass On Interest Rate Cut

AUSTRALIAN banks have said they will pass on interest rate cuts if they can, but emphasise that official interest rates are not the only influence on standard variable mortgage rates.

Sinking Aluminium Prices Blast Hole In Albanese's Defences

Talk about timing. Financial markets are in chaos, global banks are falling like tenpins, blood is flowing down Wall Street and October - traditionally the month when sharemarkets really go haywire - has only just begun.

Turnbull Bites Hand That Paid Him

MALCOLM TURNBULL has been set upon by his old friends in the banking sector for saying the banks were rolling in money and could well afford to pass on in full any rate cut the Reserve Bank of Australia grants next week.

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Banks Pump In Billions To Alleviate Dollar Shortage

THE Reserve Bank, and its counterparts across the world, are being called on to try new tricks to alleviate the world's liquidity shortage.

Sharemarket's $60bn Wipeout

ABOUT $60 billion has been erased from the Australian sharemarket's value, reducing investors' portfolios to 2005 levels, after the US Congress voted down a $US700 billion plan to rescue ailing banks.

World's Banks Try New Tricks In A World Of Shrinking Greenbacks

THE Reserve Bank, and its counterparts across the world, are being called on to try new tricks to alleviate the liquidity shortage.

Reserve Tipped To Double Rate Cut

THE Reserve Bank is increasingly likely to slash official interest rates by half a percentage point at its meeting on Tuesday, amid soaring funding costs for banks and signs that households are tightening their belts.