Israel killed its subcontractor in Gaza. Banks ‘need more capital’ The IMF has recommended measures to protect Australia’s banking sector against volatility ...
“Australia’s financial sector faces a unique set of risks”. Photo: Louie Douvis John Kehoe The International Monetary Fund says Australia’s largest four banks should be forced to raise billions of dollars in extra capital, a move that would hit profits, because of their dominance over the industry. Raising concerns about aspects of the banking system, the Washington-based fund called for tougher stress tests to assess how the banks would manage a financial crisis like the one that hit after the Lehman Brothers collapse.
It proposed an upfront fee paid by banks to insure depositors’ cash, a step designed to avoid expensive government bail-outs. Myer shares up as shoppers fill bags. APRA unveils final draft of Basel III reforms. APRA releases final package to implement Basel III capital reforms. 13 Nov 2012 12.29 Page Content The Australian Prudential Regulation Authority (APRA) today released a package of final measures that completes APRA’s implementation of the Basel III capital reforms for authorised deposit-taking institutions (ADIs) in Australia.
The package released today includes APRA’s response to submissions received on its proposed requirements for counterparty credit risk capital and other measures, which were released in draft form in August this year. In addition to the response paper, the package includes final versions of seven relevant prudential standards, two prudential practice guides and accompanying reporting standards, and revised guidelines on the recognition of External Credit Assessment Institutions. APRA releases final prudential standards for superannuation. The Australian Prudential Regulation Authority (APRA) has today released a response paper and 11 final prudential standards for the superannuation industry.
The release of this package is the culmination of a two-stage consultation process that commenced in September 2011 and was followed by the release of draft prudential standards for superannuation in April 2012. The paper released today outlines APRA’s response to the main issues raised by industry during the consultation process. National Australia Bank abolishes CIO role in reshuffle. NATIONAL Australia Bank has announced new appointments to its technology leadership team with chief information officer Adam Bennett assuming a new role.
A company spokesman confirmed that the CIO position had been abolished. Mr Bennett, who spent more than three years as CIO, will become executive general manager for enterprise transformation in the group business services division. The bank said in his new position Mr Bennett would be "accountable for driving NAB's transformation agenda, including the NextGen program, enterprise architecture and enterprise project services". General manager for application development and testing, Denis McGee will assume the post of group business services chief technology officer.
NAB said Mr McGee will be responsible for the operation of technology services including applications, mainframe and server infrastructure, data centres, core network and IT security. NAB CIO gets promotion amongst reshuffle. Blog The National Australia Bank appears to have conducted a minor reshuffle of its executive leadership team, including what appears to be a promotion for NAB chief information officer Adam Bennett.
The media release: “NAB senior leadership appointments: National Australia Bank today announced a number of senior leadership appointments across the bank. Christine Bartlett has been appointed Executive General Manager, Asset Servicing, Wholesale Banking. NAB splits CIO role in two - Strategy. National Australia Bank Shuffles Tech Ranks - Deal Journal Australia. By Caroline Henshaw National Australia BankNAB.AU +0.51% on Wednesday announced a reshuffle at the top of its technology team, including what the bank describes as a promotion for Chief Information Officer Adam Bennett.
Mr. Executive shake-up for NAB tech team. WARNING: Goldman Sach’s Leading Indicators Signal Steep Market Crash Ahead. June 7th, 2012 Goldman Sachs reports their Global Economic indicators show the world has reentered a contraction and a steep stock market crash lies ahead.
Goldman Sachs Global Leading Indicator (GLI) show that the global economy has entered into a contraction phase “suggest this could be a much more severe downturn” than Wall Street is currently anticipating. Eurozone falls into second recession since 2009. US fiscal brinkmanship and its threat to Australia - The Drum Opinion. Find More Stories US fiscal brinkmanship and its threat to Australia. US bond prices edge up on fiscal, M East worries. The ‘fiscal cliff’ explained. China - Xi Jinping, 'princeling' new leader. China's Communist Party anoints Xi Jinping as the nation's new leader. Sorry, but this video is not currently available.
Premium Content To access premium content, please login or set up a subscription. It's quick, and easy. SubscribeLog in China's new leaders, led by new Communist Party general secretary Xi Jinping, left, arrive for a press conference that revealed the new team that will steer the world's second largest economy for the next decade. Members of the new Politburo Standing Committee, from left, Zhang Gaoli, Liu Yunshan, Zhang Dejiang, Xi Jinping, Li Keqiang, Yu Zhengsheng and Wang Qishan.
China's new leader, Xi Jinping, addresses journalists in Beijing after securing the Communist Party's top spot. News / International : Hu Jintao formally bids farewell to Chinese Communist Party. Beijing, Nov 16: Outgoing Chinese President Hu Jintao has formally relinquished his role at the top of the ruling Communist Party, clearing the way for Xi Jinping to take over as the country’s new leader.
Hu, 69, formally bade farewell to the party at a function here last night after ensuring once-in-a-decade smooth transfer of power. Keeping up with the party rules and conventions, Hu quit as party General Secretary, President and Chairman of the Military Commission, handing over all the three powerful posts to his successor Xi, 59, who was formally elected as the new leader of the Party yesterday. Hu’s graceful exit was different from that of his predecessor Jiang Zemin who continued as Chairman of the Military Commission for two years even after retirement and retained his influence over the party till today.
Hu and Wen would continue in office as Chinese President and Premier, respectively till March next year. (This article was published on November 16, 2012) Qantas on right path as debt falls: CEO. QANTAS ASX buyback pdf. Directors slam AGMs, two-strike rules. Mallesons - directors and boards. Lend Lease hit with ‘first strike’ over pay. Downgrades unlucky, or just plain careless? Comment.
BOQ asx pdf RMBS. Storm clouds gather for QBE. QBE shares dive again as forecast doubted. Www.asx.com.au/asxpdf/20121112/pdf/42b3yf1hppgjm1.pdf.