Australian Bankers’ Association to appear at public hearing

Posted by Henry | BANKS,EVENTS FAIRS FESTIVALS,GOVERNMENT | Thursday 16 February 2017 10:56 am

oz-fed-gov-logo image

The Australian Bankers’ Association (ABA) will join the four major banks at the House of Representatives Standing Committee on Economics’ public hearings in March for the review of the performance of Australia’s banking and financial system.

One of the committee’s focus areas is on how individual banks and the banking industry as a whole are responding to issues previously raised in Parliamentary and other inquiries, including through the Australian Bankers’ Association’s April 2016 six point plan to enhance consumer protections and in response to Government reforms and actions by regulators.

The Chair of the committee, Mr David Coleman, MP, stated that ‘these hearings provide an important mechanism to hold the banking sector to account before the Parliament’.

‘As the ABA is charged with addressing numerous issues of concern to consumers, it is important that they are scrutinised by the committee.’
Public Hearing Details:
Public hearing day 1

Friday, 3 March 2017
Committee Room 2R1,
Parliament House, Canberra
NAB – 9.15am to 12.15pm
Public hearing day 2

Tuesday, 7 March 2017
Main Committee Room,
Parliament House, Canberra
CBA – 9.15am to 12.15pm
ANZ – 1.15pm to 4.15pm
Public hearing day 3

Wednesday, 8 March 2017
Main Committee Room,
Parliament House, Canberra
Westpac – 9.15am to 12.15pm
ABA – 1.15pm to 3.15pm

commercial business loans info flyer (6)
Henry Sapiecha

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Posted by Henry | BORROWING LENDING,GOVERNMENT,GRANTS | Saturday 21 June 2014 10:01 am

A great start to get into your new first home


The Great Start Grant is a Queensland Government initiative to help first home owners to get their new first home sooner. You’ll get $15,000 towards buying or building your new house, unit or townhouse (valued at less than $750,000). You can even buy off the plan or choose to build yourself. It’s a great opportunity to buy or build a new home in our great state.

How a $15,000 Great Start Grant can help you

  • If you’re thinking of buying or building a new home, this could
    be what gets you started
  • It could get you something more than you were expecting
  • It can get you into your first home sooner

Note: The Great Start Grant is administered under the First Home Owner Grant Act 2000.

Contact details:

Office of State Revenue
GPO Box 953
Brisbane Qld 4001
Client Contact Centre: 1300 300 734
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Posted by Henry | GOVERNMENT,INTEREST RATES,RESERVE BANK | Monday 4 February 2013 11:11 am


The Reserve Bank is expected to adopt a ‘‘wait and see’’ approach to a further easing of interest rates at its first board meeting of the year tomorrow, despite a raft of weak data pointing to a softening economy.

Building approvals for December were weaker-than-expected, the ANZ job advertisements survey fell by 0.9 per cent in January and inflation remain subdued, a series of economic indicators released today showed.

But since the Reserve Bank’s last cut to the cash rate, commodity prices have strengthened, while the US, European and Chinese economies appear to be staging a recovery, BT Financial Group chief economist Chris Caton said.

‘‘The Reserve Bank will say, ‘Well, we may well cut again in the future, but we don’t have to be in a hurry to do that. We’ve already put a fair bit of monetary easing in the pipeline. Why don’t we wait and see what effect that’s going to have’,’’ Mr Caton said.

A key indicator that will be released two days after the Reserve Bank’s meeting, the unemployment rate, is forecast by economists to drift slightly upwards to 5.5 per cent from 5.4 per cent the month before.

I think the private sector is still indicating by its activity in the labour market that there’s still not moves to significant reduce the work force, otherwise we would see a lot more negatives on the monthly employment figures,” Commonwealth Bank senior economist Michael Workman said.

“On balance, the case is [the RBA] can sit, wait and watch. And maybe they can progress this argument that in December the rate cut was provided on a reading of the economy both here and offshore that was a little bit more negative than it’s actually turned out to be.”
Gold Company

Inflation benign

Jobs ads fell for an eleventh straight month, building approvals dropped for the first time since last April, while inflation remains benign.

The TD Securities-Melbourne Institute’s measure of consumer prices edged up 0.3 per cent in January, after a rise of 0.4 per cent in December.

The annual pace of inflation lifted slightly to 2.5 per cent, after hitting 2.4 per cent in December. It was in the middle of the Reserve Bank’s 2 to 3 per cent target band.
Fantasy Footwear

ANZ reported this morning that monthly job advertisements fell by 0.9 per cent last month. Job ads had dropped a revised 2.8 per cent in December, after a 2.8 per cent decline in November.

ANZ’s head of Australian economics and property research, Ivan Colhoun, said the January results meant job advertising was “broadly unchanged”, given the seasonal swings during the December and January period.

“We will need to assess the February data to ascertain whether the previous decline in job advertising is beginning to moderate,” Mr Colhoun said.

At the same time, building approvals data from the Bureau of Statistics, also released this morning, revealed that dwelling approvals dropped 4.4 per cent in December in seasonally adjusted terms, against economists’ expectations of a 1 per cent rise. In November, approvals went up by 3.4 per cent.

Private sector housing approvals fell 3.3 per cent in December in seasonally adjusted terms, the Bureau of Statistics said, as the value of total buildings approved sank 1.9 per cent for the same month.
Gold Company

Cheaper holiday travel

TD Securities said a rise in the prices of utilities, transport fare in urban areas and education – mostly due to seasonal reasons – were the main contributors to the change in its gauge.

These rises were in turn offset by a fall in the prices of holiday travel and accommodation, clothing and footwear, and furniture and furnishings, it said.

The gauge showed food and vegetables prices rose by 1.2 per cent while car fuel prices fell by 0.6 per cent.

The data also showed that underlying inflation, or the trimmed mean, lifted by 0.2 in January, resulting in a rise of 2.2 per cent in the three months to December in annualised terms, the survey said.

The Reserve Bank board is set to meet tomorrow for the first time this year, with financial markets’ expectations of an interest rate cut this month standing at just 16 per cent, Credit Suisse data showed.
Gold Company

Rate cut on radar

Softer economic data and a strong Australian dollar have added further pressure on the RBA to lower interest rates, although most economists expect the central bank to act in March rather than tomorrow.

“The RBA is in a comfortable position to discuss the outlook and the risks at the Board meeting tomorrow, without reducing the cash rate further, for now,” TD Securities Asia-Pacific Research head, Annette Beacher, said.

“Compared with this time last year, the cash rate has been lowered by 125 basis points to 3 per cent. We believe past RBA action has set the stage for a decent revival in the housing sector to support growth, as the impact of mining investment fades by year end,” she said.

“The strong Australian dollar has allowed numerous goods and services to be imported at discount prices, although this impact likely to fade as the year unfolds as the [Australian dollar] stabilises.”

A higher unemployment rate, which some economists expect to be revealed in Thursday’s Bureau of Statistics labour force data release, and subdued corporate capital expenditure plans could be factors in pushing the RBA to act in March.

The Reserve Bank has so far cut 175 basis points from the cash rate since the start of the easing cycle in November 2011.
Small Loans Australia

Sourced & published by Henry Sapiecha
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Posted by Henry | BORROWING LENDING,GOVERNMENT,NATIONAL DEBT | Monday 4 February 2013 12:24 am


Comment from Ross Greenwood (Financial presenter

on Australian morning TV show)

Small Loans Australia

In USA today:

Lesson # 1: Why the U.S. was downgraded:

* U.S. Tax revenue: $2,170,000,000,000

* Fed budget: $3,820,000,000,000

* New debt: $1,650,000,000,000

* National debt: $14,271,000,000,000

* Recent budget cuts: $38,500,000,000

Let’s now remove 8 zeros and pretend it’s a household budget:

* Annual family income: $21,700

* Money the family spent: $38,200

* New debt on the credit card: $16,500

* Outstanding balance on the credit card: $142,710

* Total budget cuts: $385

– Got It ?????

OK, now Lesson # 2:

Here’s another way to look at the Debt Ceiling:

Let’s say, you come home from work and find there has been a

sewer backup in your neighbourhood … and your home has sewage

all the way up to your ceilings.

What do you think you should do?

Raise the ceilings, or pump out the (ummmm) “effluent”?
Home Money Manager Software

Lesson # 3 : in Australia today

Right now the Federal Government is at pains to tell everyone –

including us,

the mug-punters, and the International Monetary Fund, that it will

not exceed its own, self-imposed, borrowing limits.

How much? $200 billion. And here’s a worry.

If you work in a bank’s money market operation; or if you are a

politician, the millions turn into billions and it rolls off the tip of the

tongue a bit too easily. But every dollar that is borrowed, some

time, has to be repaid.

By you, by me and by the rest of the country.

Just after 5 o’clock tonight I did a bit of math for Jason Morrison

(Sydney radio presenter). But it’s so staggering its worth repeating

Home Money Manager Software

First thought: Gillard, Swan, Wong, and before that Rudd, and all of

the Labor Cabinet call these temporary borrowings, a temporary


Remember Those Words : TEMPORARY DEFICIT.

The total Government debt will end up around $200 billion.

So here’s a very basic calculation… I used a home loan calculator

to work it out….. it’s that simple..

$200 billion is two hundred thousand million dollars.

The current 10 year Government bond rate is 4.67 per cent. I

worked the loanout over a period of 20 years. Now here’s where it

gets scary …. really scary.

The repayments on $200 billion come to more than one and a

quarter billion dollars – every month – for 20 years. It works out

that we – as taxpayers – will be repaying $15.4 billion in interest

and principal every year .. $733 for every man woman and child –

every year.

The total interest bill over the 20 years is – get this – $108 billion.

Remember, this is a Government that just 4 years ago had NO

debt. NO debt.

In fact, it had enough money to create the Future Fund, to pay the

future liabilities of public servants’ superannuation, and it had

enough to stick $20 billion into the Building Australia Fund …..

A note was sent to me, which explains that the six leading

members of the Government, from Ms Gillard down, have a

collective work experience of 181 years, but only 13 years in the

private sector.

If you take out of those 13 years the number that were spent as

trade union lawyers, 11 years, only two years were spent in the

private sector.
Easy Ways to Save Money

So out of those 181 years:

– no years spent running their own business

– no years spent starting their own business

– no years spent as a director of a family business or a company

– no years as a director of a public company

– no years in a senior position in a public company

– no years in a senior position in a private company

– no years working in corporate finance

– no years in corporate or business restructuring

– no years working in or with a bank

– no years of experience in the capital markets

– no years in a stock-broking firm

– no years in negotiating debt facilities with banks

– no years running a small business

– no years at the World Bank or IMF or OECD

– no years in Treasury or Finance.
Marketing with no money

But these people have plunged Australia into unprecedented debt.

Well, in a way you can’t blame them.

It’s clear the electorate did not do their homework, because the

Government is there by right.

Ah, but they are Labor and people vote for them because Labor is

good for the working family – right???

If you have read this you may like to pass it on to your friends to

help educate a little as you, them and I, will be repaying the above

Any views expressed in this message are those of the individual

sender, and as such it is in a conversational manner that this is

Small Loans Australia

Received & published by Henry Sapiecha

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