Articles on Banking

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New rules on banker bonuses are more bark than bite

The 2007-2008 banking crash ushered in an era of austerity and pay freezes, but bank executives have continued to enjoy disproportionate rewards even though their institutions have been bailed out by taxpayers…
The news was taken badly by some bankers. thehutch

New bonus rules may make bankers happier campers

Imagine having to wait seven years before you could be sure that what you were properly paid for your job. If it sounds like a bad deal then maybe it’s time to spare some empathy for bankers at UK financial…
Conflicts abound in Australia’s financial system. Dan Peled/AAP

Three financial system flaws David Murray can’t ignore

At the current frequency of financial system inquiries (Campbell 1982, Wallis 1997, Murray 2014) there will not be another until 2030. That makes this week’s interim report from David Murray all the more…
Could Bitcoin turn banking on its head? Elentari86/Flickr

Banking’s huge profits almost ready for the taking

Australia’s big four banks are the most profitable in the world. Last year they made A$27 billion in profit, up 9.5% on the previous year. Tech leaders in Australia say the financial industry is ripe for…
Revelations of secret Trade in Services Agreement talks have brought them from the shadows. Image sourced from www.shutterstock.com

Wikileaks brings much-needed scrutiny to secret trade talks

Wikileaks has shone the light yet again on behind-the-scenes manoeuvres by a core of governments seeking to advance a free market agenda in the guise of “trade”. The leaked text on financial services is…
Further global deregulation of banking might present future opportunities. Image sourced from www.shutterstock.com

Why we needn’t fear the end of the Four Pillars policy

Revelations by whistleblower organisation Wikileaks of secret global negotiations to further deregulate global financial services, has led to speculation that such pact could signal the end of Australia’s…
I sent a friend request so I’m pretty sure this is OK. mattiasjajaja

Nothing is private once Facebook gets into your wallet

Facebook has been on a shopping spree in 2014. It’s looking to buy a drone company so it can bring the internet and Facebook to the remaining 6 billion people on Earth who aren’t already using it, and…
An increasing number of consumers choose a broker over going direct to a bank for their home loan. Dan Peled/AAP

Looking for a home loan? Choose from one of these four options…

Over 40% of mortgages in Australia are sold by mortgage brokers, not by their manufacturers - an issue that has the CEO of Australia’s fifth largest bank, Suncorp, arguing the sector is skewed towards…
The Reserve Bank’s mandate is much broader than that of prudential regulator, APRA. ArchivesACT/Flickr

The case for the Reserve Bank to swallow APRA

One of the major recommendations made by the 1997 Wallis Inquiry into banking was to establish a prudential regulator for the financial sector separate from the Reserve Bank of Australia. The new regulator…
The last word is still accurate, at least. EPA

Now Co-op is just another bank, it’s time to ditch the name

Just when members of the Co-op thought the group’s increasingly farcical situation was coming to an end, it was revealed that the bank had overlooked £400m in fines for mis-selling payment protection insurance…
Banks are asking former CBA chief David Murray, now heading the Financial Systems Inquiry, to consider tax breaks on interest income. AAP/Dean Lewins

Banks want you to pay less tax on interest, but why?

Australia’s big banks want the government to give their customers tax breaks on interest income, having told the Financial Systems Inquiry it would encourage more savings. In turn, the banks will have…
Hitting a brick wall? lydia_shiningbrightly

Flaws in our thinking mean banks can do without our trust

The ongoing global financial crisis (because we’re not out of it yet, are we?) is often characterised as a crisis of trust. Distrust of the banks was a major theme – but distrust extended also to credit…
Correcting Eire: the Irish state is serious about modernising. William Murphy/Flickr

Ireland’s post-crash reforms promise more than just recovery

The Republic of Ireland’s calamitous recent years of financial crisis and government dysfunction look to be coming to an end, with an economic recovery gathering pace and a new administration that seems…
Tunisia has its dangers, but it should be safe from financial collapse. archer10

How banks can help the move from dictatorship to democracy

Tunisia has been hailed as a lone success story among the Arab Spring nations. A relatively peaceful transition with a recent agreement on a new constitution has enabled the country to avoid the bloodshed…
Fight or flight? Bankers likely to opt for the second. BK and EP

Fear of risk linked to high stress hormone in bankers

In times of financial uncertainty and crisis, high stress reactions lead to traders becoming more risk averse, which drives pessimism and further falls in finance, according to a new study. This is because…

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