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Showing 571 - 580 of 4471 results for "The Fed"

Fink warns of "slow rolling crisis"

JAMIE WILLIAMSON  |  THURSDAY, 16 MAR 2023
In his annual letter to investors, BlackRock chair Larry Fink has said it's unclear what impact the collapse of Silicon Valley Bank and others this past week will truly have, saying they are just one element of the "price we're paying for decades ...

No systemic risk with SVB, but issues remain: Experts

CASSANDRA BALDINI  |  WEDNESDAY, 15 MAR 2023
... standards will likely tighten further, which will constrain economic growth, reduce inflation and make it less necessary for the Fed to continue raising interest rates. As a result, customers will have less incentive to move deposits into higher-earning ...

HSBC bails out Silicon Valley Bank UK

CASSANDRA BALDINI  |  TUESDAY, 14 MAR 2023
... Silicon Valley Bank demand a thorough, transparent, and swift review by the Federal Reserve," said chair Jerome Powell. The Fed advised the review report will be released at the start of May. "We need to have humility and conduct a careful and thorough ...

US agencies act to prevent crisis

JAMIE WILLIAMSON  |  MONDAY, 13 MAR 2023
... in Silicon Valley Bank and Signature Bank will be made whole and that the cost of doing so won't be borne by taxpayers. The Fed has created the Bank Term Funding Program (BTFP), offering loans of up to one year to depository institutions, taking certain ...

Court fines ANZ for dodgy introducer program

KARREN VERGARA  |  MONDAY, 13 MAR 2023
ANZ has copped a $10 million penalty for its home loan referral program that breached consumer credit protection laws. The Federal Court found that the bank's Home Loan Introducer Program enabled unlicensed third parties to refer customers to ANZ for ...

US interest rates may go higher than expected: Powell

CASSANDRA BALDINI  |  THURSDAY, 9 MAR 2023
... Reserve chair Jerome Powell before the House Financial Services Committee. Providing testimony yesterday, Powell explained the Fed will continue to make decisions "meeting by meeting", taking into account the totality of the incoming data and its implications ...

Mercer embroiled in greenwashing allegations

KARREN VERGARA  |  TUESDAY, 28 FEB 2023
Setting a precedent, the corporate watchdog has taken Mercer Superannuation Australia to court for alleged greenwashing conduct. Mercer marketed the Sustainable Plus options, available in the Mercer Super Trust (MST), as suitable for members who "are ...

Super, advice class actions dampen CBA results

KARREN VERGARA  |  WEDNESDAY, 15 FEB 2023
Despite reporting bumper profits this morning, Commonwealth Bank continues to put out fires from its misconduct stemming from the Hayne Royal Commission, as it looks to tackle several class actions in 2023. One ongoing lawsuit alleges that Colonial ...

RBA cash rate hike forecast by economists

ANDREW MCKEAN  |  TUESDAY, 7 FEB 2023
The Reserve Bank of Australia (RBA) is widely tipped to lift the cash rate by 25 basis points today to fight ongoing inflationary pressure. According to HSBC chief economist Paul Bloxham, inflation is too high and there's yet to be clear evidence ...

The self-funded retiree is a misnomer: Institute

JAMIE WILLIAMSON  |  MONDAY, 6 FEB 2023
New research from The Australia Institute shows the cost to the federal budget of tax concessions is almost on par with the total cost of the Age Pension, with the think tank declaring the 'self-funded retiree' a misnomer. According to the insights ...