Sat, 21st Dec 2024
from Finance News Wrap Hosted by Paige Estritori
This episode of the Weekly Finance News Wrap covers major financial updates, starting from the brewing shareholder dissatisfaction at ANZ due to the bond trading scandal and remuneration plans. Following an investigation by ASIC into the sale of $14 billion worth of government bonds and allegations of market manipulation, ANZs CEO has foregone his long-term bonus, and APRA has imposed a $250 million capital obligation on ANZ. Australian homeowners could face rising mortgage rates after the holiday season, despite the Reserve Bank of Australia maintaining a steady cash rate. However, Pengana Credit's CEO reports strong private credit maintenance and significant growth in the sector. In a major reform, Treasurer Jim Chalmers plans to introduce new advisory boards filled with corporate expertise to overhaul the Reserve Bank of Australia.
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