Articles on Banks

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Malcolm Turnbull said on Friday that changing Section 18C of the Racial Discrimination Act ‘was not a priority’. Joel Carrett/AAP

Turnbull’s backbench muscles up

Malcolm Turnbull’s rhetoric this week has been designed to put the heat on Labor over budget repair. But he has three grassfires on his hands even before the new parliament starts on August 30 – and they’re…
Scott Morrison said the Moody’s affirmation was a ‘welcome boost’. Mick Tsikas/AAP

Australia’s AAA rating affirmed by Moody’s

Moody's has reaffirmed Australia's AAA credit rating, as Malcolm Turnbull seeks to put pressure on Labor and crossbenchers to pass measures to help repair the budget.
Australian banks improved their efficiency after the introduction in 2003 of the ASX Principles of Good Corporate Governance, which aimed for improved governance mechanisms and thus better control over bank management. AAP Image/Paul Miller

Good corporate governance is good for banks’ bottom line

Good corporate governance is good for efficiency and profit in banks. But having independent board members and the number of board meetings don't play a role, research shows.
Malcolm Turnbull’s plan to bring bank executives before a parliamentary committee at least annually has been seen as little more than token. Mick Tsikas/AAP

The banking story has a way to run for Malcolm Turnbull

Malcolm Turnbull’s resistance to a royal commission into banks is flouting public opinion and will test his own backbenchers, who have their fingers on the electoral pulse on this hot-button issue. An…
One has to ask what the banks fear. Are there further pockets of wrongdoing yet to emerge? No, they say. AAP/Paul Miller

Turnbull inquiry-lite bank plan falls short

Malcolm Turnbull’s plan to have the chiefs of the big banks regularly front a parliamentary committee is more gesture than substance. What it tells us is that Turnbull is very sensitive to the strong public…
After the Reserve Bank cut the cash rate by 25 basis points to 1.5%, the four big banks said they would pass on only part of the reduction. Paul Miller/AAP

Turnbull to banks: pass on whole interest rate cut

Malcolm Turnbull has sternly told the banks they should pass on the whole of Tuesday's rate cut - or their chief executives must explain why they are not doing so.
Stay or go - Britons will vote this week. Reuters/Hannibal Hanschke

How a Brexit could impact on Australia

A British exit from the European Union will mean short term volatility on global markets, but the longer term outcomes are more uncertain.
Westpac is one of the banks where ASIC alleges traders rigged the bank bill swap rate. Mick Tsikas/AAP

Business Briefing: manipulating the BBSW

Business Briefing: the bank bill swap rate.
As more details are revealed in the bank bill swap rate rigging case we explain what the rate does, how it can be manipulated and what the government should be doing about it.

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