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Superannuation

APRA releases changes to home loan risk-weighting

The Australian Prudential Regulation Authority (APRA) yesterday released revised criteria for authorised deposit‑taking institutions (ADIs) to qualify for the concessional oncessional risk‑weighting of residential mortgage lending for capital adequacy ...

Macquarie prices 350 million pound securities offering

AAP  |  WEDNESDAY, 15 SEP 2004
Macquarie Capital Funding, which facilitates the Macquarie Bank Group\'s capital raising, has today priced a STG350 million (approximately $A900 million) offering of tier 1 capital-eligible securities.

S&P says Tower ratings not immediately affected by spinoff news

AAP  |  WEDNESDAY, 15 SEP 2004
Standard & Poor\'s Ratings Services said on Tuesday that the ratings on Tower and its main operating subsidiaries, including Tower Australia, are not immediately affected by Tower\'s announcement of its proposed separate listing for its Australian wealth ...

Lend Lease says Bovis covered by US govt captive insurer

AAP  |  WEDNESDAY, 15 SEP 2004
Lend Lease Corp on Tuesday said it believed its construction unit Lend Lease Bovis would not be hit by compensation claims if a US class action lawsuit being brought by workers employed on the World Trade Center site in New York City was successful.

FSG; a step towards simplicity

The Australian Securities and Investments Commission (ASIC) has issued a class order outlining a more simple compliance regime under the Financial Services Guide (FSG) for financial advisers of retail clients.

Banks face volatility with shift to global accounting standards

AAP  |  WEDNESDAY, 15 SEP 2004
Australia\'s transition to international accounting standards could generate volatility in the profits and equity reserves of the banks, a banking conference heard on Tuesday.

AMP Capital Investors appoint Michael Clarke director of BDM and strategy

AMP Capital Investors today announced the appointment of Michael Clarke as director, business development and strategy.

Fitch says downgrades QBE long term rating to A

AAP  |  TUESDAY, 14 SEP 2004
Fitch Ratings, the international rating agency, has on Monday downgraded QBE Insurance Group\'s long-term rating to \'A\' from \'A+\'.

New record set for 30 Day cash rate futures: SFE

The Sydney Futures Exchange (SFE) reported a new record for the highest one-day transaction volume on the 30 Day Interbank Cash Rate futures contract set last Friday.

US investment house Capital ups Qantas stake to 10.53%

AAP  |  MONDAY, 13 SEP 2004
US investment manager Capital Group Companies Inc has increased its stake in Qantas Airways to 10.53%, from 7.34%.