Banking

Australia banking regulator tightens home loan requirements, more to come

SYDNEY, Oct 6 (Reuters) – Australia’s banking regulator on Wednesday tightened restrictions on home lending and flagged possible further action, saying rapid loan growth that has fed a surge in housing prices poses a risk to financial stability.

The Australian Prudential Regulation Authority (APRA) estimated its higher benchmark for assessing home buyers’ ability to repay loans would reduce a typical borrower’s maximum borrowing capacity by about 5%.

But given that less than one in 10 borrowers ask for the maximum loan, the vast majority of borrowers will be unaffected by the change, analysts said.

Home prices, already 20% higher than

Read More

President Buhari, others to grace CIBN Banking and Finance Conference

The theme of the Conference is: “Economic Recovery, Inclusion and Transformation; The Role of Banking and Finance.”

According to him, the conference is expected to reposition the banking and finance industry as a catalyst for economic recovery, inclusive growth and transformation.

He said the conference scheduled to hold on Sept.14 and Sept. 15, would be co-chaired by Managing Directors of Unity Bank Plc and Jaiz Bank Plc, Mrs Tomi Somefun and Mr Hassan Usman, respectively.

“This year’s event is a paradigm shift from previous conferences, with a strategy to enhance the quality of knowledge shared and full

Read More

DeFi Will Be The Catalyst For Fully Digital Banking And Trade Finance


7 min read


This story originally appeared on ValueWalk

Defi is believed to overthrow traditional finance due to its accessibility, sphericity, efficiency, and ease of value transfer. During the recent bull run, the Defi market spiked over $149B, and the total value locked (TVL) in various DeFi protocols surpassed $86B.

[soros]

Q1 2021 hedge fund letters, conferences and more

Defi banks on the inefficiencies of the traditional finance system where financial applications are expensive, difficult to access, and most importantly, hard to use. However, the maximalist slogan ‘Defi will eat Cefi’ seems far-fetched, as governments, banks, and

Read More

Banking sector dominates the Nigerian stock exchange

Last week, the banking industry outpaced other sectors with a gain of 1.3%. The NGX Banking Index grew the quickest, of all the sector indices tracked by the Nigerian Exchange, rising by 0.36% to 362.51 basis points, owing mostly to gains in the shares of Access and Zenith Banks.

The Financial Services Industry (measured by volume) topped the activity chart with 695.803 million shares worth N5.178 billion exchanged in 8,616 deals, accounting for 70.92% equity turnover volume and 49.86% equity turnover value.

The Consumer Goods Industry came in second with 75.879 million shares valued at N1.227 billion traded in 2,263

Read More

Establishing A Finance Company In Nigeria – Finance and Banking


Nigeria:

Establishing A Finance Company In Nigeria


To print this article, all you need is to be registered or login on Mondaq.com.

Introduction

Micro, Small and Medium Enterprises (MSMEs) play a significant
role in the development of the economy of many countries. According
to the World Bank1, MSMEs represent about 90% of
businesses worldwide. The growth of MSMEs in many countries,
however, is often stifled by limited access to finance, as
financial institutions are less likely to provide funding to MSMEs
due to the high-risk nature

Read More

Banking and finance experts converge to reignite the European region

Backbase, SmartMessage, Abaka and Creatio have joined the foremost edition of Finnovex Europe to formulate evolutionary strategies for reigniting the banking and financial services industry of the European region.

The Leading Summit on Financial Services Innovation and Excellence, which was held from May 24 to 25, 2021, on the host’s virtual platform, witnessed the attendance of many C-suite individuals, senior vice presidents, vice presidents, directors and heads of departments from the banking and financial services industry.

The virtual event, organized by Exibex, is a part of the Finnovex Global Series.

This year’s edition was themed “Evolution Strategies for Reigniting the

Read More

Wall Street CEOs testified before Senate banking panel, defending record on climate change, diversity while fighting charges of ‘woke capitalism’

Follow along with MarketWatch reporters for live updates and analysis of the testimony of six CEOs of America’s largest banks testify to the Senate Banking Committee.

Key tickers: Dow Jones Industrial Average
DJIA,
+0.03%
| U.S. dollar
DXY,
+0.06%
| 10-year Treasury
TMUBMUSD10Y,
1.590%
| Goldman Sachs Group Inc.
GS,
+0.79%
| Wells Fargo & Co.
WFC,
+0.67%
| Bank of America Corp.
BAC,
+0.07%
| Morgan Stanley
MS,
+0.55%
| Citigroup
C,
+0.31%
| JPMorgan Chase & Co.’s
JPM,
-0.01%

Read More

Rho Technologies Announces $100 Million in Financing to Transform Business Banking

NEW YORK–(BUSINESS WIRE)–Rho Technologies, the high-growth fintech behind Rho Business Banking, announced $100 million in debt financing from global impact investment firm, Community Investment Management (CIM). The financing will allow Rho to invest in strategic initiatives and broaden its service offerings to business clients including names like direct-to-consumer furniture company Burrow, collaboration software company Popular Pays and direct-to-consumer home goods company Caraway.

The news comes on the heels of Rho’s $15 million Series A funding round and the launch of a new, integrated accounts payable feature as part of its business banking platform. Rho Business

Read More