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Australian Central Savings & Loans Now People's Choice

NAB raises cost of some business loans

To enable cookies, follow the instructions for your browser below. Enabling Cookies in Internet Explorer 7, 8 & 9 Open the Internet Browser Click Tools> Internet Options>Privacy>Advanced Check Override automatic cookie handling For First-party Cookies and Third-party Cookies click Accept Click OK and OK Click Tools>Options>Privacy<Use custom settings for history Check Accept cookies from sites Check Accept third party cookies Select Keep until: they expire Click OK Enabling Cookies in Google Chrome Open the Google Chrome browser Click Tools icon>Options>Under the Hood>Content Settings Check Allow local data to be set Uncheck Block third-party cookies from being set Uncheck Clear cookies Enabling Cookies in Mobile Safari (iPhone, iPad) Go to the Home screen by pressing the Home button or by unlocking your phone/iPad Select the Settings icon. Select Safari from the settings menu. Select 'accept cookies' from the safari menu. Select 'from visited' from the accept cookies menu. Press the home button to return the the iPhone home screen. Select the Safari icon to return to Safari. Before the cookie settings change will take effect, Safari must restart. <br>For the original version including any supplementary images or video, visit

Distressed Debt Buyers Seek Australian Loans as Mining Struggles

The percentage of residential mortgage loans more than 30 days in arrears fell to 1.35 per cent in the September quarter, ratings agency Standard & Poor's said in its latest RMBS Performance Watch report. The result was down from 1.5 per cent in the previous quarter and the lowest level since October 2011, the report said. "This suggests the progressive lowering of interest rates during the past year is taking effect," S&P said in a statement. Some economists were forecasting further cuts in 2013, which should bring further easing in borrowing rates even though Australia's banks have not been passing on the RBA moves in full. On a state-by-state basis, the S&P report found Queensland had 1.63 per cent of loans behind in their repayments by more than 30 days, the highest level in the country. Although this was down from 1.82 per cent in the previous quarter, the report warned that recent moves from the Queensland government to slash public sector jobs and the slowdown in mining investment in the state could affect arrears. Next highest was Western Australia at 1.6 per cent and Tasmania at 1.58 per cent. In terms of specific suburbs, the Nelson Bay area north of Newcastle in NSW, had the highest arrears of all Australian postcodes. S&P said Australia's economic outlook "bodes well for a stable housing-loan market" in 2013. <br>For the original version including any supplementary images or video, visit

Australian loan arrears dropping as rates fall

NAB will increase the liquidity margin that applies on some of its business loans by 20 basis points, from July 30. The bank says the liquidity margin only applies to some market-linked loans that are targeted primarily at mid to large businesses which want to access funding for short periods. NAB says the vast bulk of its small business customers will not be affected by the increase, because they generally use variable rate loans. In an indication the spectre of independent rate rises by the banking sector more broadly has not gone away, NAB says the liquidity margin increase has been driven by rising funding costs. The bank says the interest rate on term deposits is at an all time high relative to the Reserve Bank's cash rate, and that its wholesale funding costs also remain high. NAB's group executive business banking Joseph Healy says the bank wants to keep customers informed about the funding pressures. <br>For the original version including any supplementary images or video, visit

We continue to see incumbent lenders willing to entertain the notion of selling their debt positions, Calder said today. While the large debt trading and loan portfolio sales have been well-publicized and sought after, its in the mid-cap space that opportunities may arise in fiscal 2014. Distressed debt buyers are seeking opportunities as demands on working capital, low margins and large project risks are expected to create challenges for mining services companies in the next 12 months, according to the survey. In the last year, debt trading by investors such as Oaktree Capital Group LLC ( OAK:US ), Apollo Global Management LLC ( APO:US ) and Centerbridge Capital Partners LLC have precluded restructurings of companies including Nine Entertainment Group Ltd and Billabong International Ltd. Creative Sector A trust managed by Sankaty Advisors LLC agreed to buy a A$371 million portfolio of loan assets from Lloyds last month, as Britains biggest mortgage lender offloads assets it no longer considers essential. Westpac Banking Corp. and National Australia Bank Ltd. <br>For the original version including any supplementary images or video, visit

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