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Showing 651 - 660 of 5387 results for "Federal"

Fink warns of "slow rolling crisis"

JAMIE WILLIAMSON  |  THURSDAY, 16 MAR 2023
... result of aggressive fiscal policy since 2008, inflation has risen to the highest levels seen since the 1980s, with the Federal Reserve responding with close to 500 basis points in rate increases. This, he said, was the first domino to drop. "Bond markets ...

HSBC bails out Silicon Valley Bank UK

CASSANDRA BALDINI  |  TUESDAY, 14 MAR 2023
... government and regulators are trying to understand what led to the second biggest bank crash in its history. Overnight the Federal Reserve board announced that vice chair for supervision Michael Barr is leading a review, of the supervision and regulation ...

US agencies act to prevent crisis

JAMIE WILLIAMSON  |  MONDAY, 13 MAR 2023
... Bank failure. Early this morning, a joint statement from US Treasury secretary Janet Yellen, Fed chair Jerome Powell and Federal Deposit Insurance chair Martin Gruenberg announced all insured depositors in Silicon Valley Bank and Signature Bank will ...

Court fines ANZ for dodgy introducer program

KARREN VERGARA  |  MONDAY, 13 MAR 2023
... 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 loans. ...

FPA voices concern on proposed CSLR, FAR laws

ANDREW MCKEAN  |  FRIDAY, 10 MAR 2023
... aimed at identifying gaps and potential areas for improvement. The review was announced as part of the government's first federal budget in October 2022, receiving strong support at the time. Treasury stated that MIS's being brought under the remit of ...

US interest rates may go higher than expected: Powell

CASSANDRA BALDINI  |  THURSDAY, 9 MAR 2023
Interest rates may well be higher than previously anticipated following stronger economic data, said Federal Reserve chair Jerome Powell before the House Financial Services Committee. Providing testimony yesterday, Powell explained the Fed will continue ...

Review of managed investment schemes kicks off

JAMIE WILLIAMSON  |  THURSDAY, 9 MAR 2023
... identifying gaps and possible areas for improvement. The review was announced as part of the Albanese government's first federal budget in October 2022 and received strong support at the time. Yesterday, minister for financial services Stephen Jones ...

Mercer embroiled in greenwashing allegations

KARREN VERGARA  |  TUESDAY, 28 FEB 2023
... to ensure sustainability-related claims made by financial institutions are accurate," she said. By taking Mercer to the Federal Court, ASIC is seeking declarations and pecuniary penalties. It also wants the court to impose injunctions that prevent Mercer ...

Super, advice class actions dampen CBA results

KARREN VERGARA  |  WEDNESDAY, 15 FEB 2023
... interest rates well below the market so that for CFSIL could retain the margins for its own benefit. As ordered by the Federal Court, CBA will need to mediate this issue by 13 October 2023. The second class action relates to fees charged by the FirstChoice ...

RBA cash rate hike forecast by economists

ANDREW MCKEAN  |  TUESDAY, 7 FEB 2023
... possibly again thereafter. However, Solomon is confident that the terminal rate will be much lower than in the US. The Federal Reserve will pause somewhere around 5%, he said. Meanwhile, UBS expects the RBA to hike the cash rate by 25 basis points to ...