- Joined
- 8 June 2008
- Posts
- 13,214
- Reactions
- 19,485
Citibank (australia retail) has just been bought back by NAB so that is one less gov guarantee for me
Citibank (australia retail) has just been bought back by NAB so that is one less gov guarantee for meI believe this is the list, I have researched it
List of authorised deposit-taking institutions covered under the Financial Claims Scheme | APRA
The authorised deposit-taking institutions (ADIs) listed at the bottom of this page are all covered under the Financial Claims Scheme (the FCS).www.apra.gov.au
And as always, risk and reward!
Christopher Joye, often a fear-mongerer, wrote last week:
" ....the industry sector with the highest proportion of zombie [companies] in Australia is real estate, including construction, residential developers and commercial property, which is one reason why banks do not normally lend much to these companies. They have instead been forced to seek finance from non-bank lenders that charge higher interest rates in exchange for taking on the risk that these zombies default on their debts.
"The looming global recession has all the makings of a mega default cycle that will see many zombies wiped out in both the corporate and household sectors. The last time we had this sort of cathartic capitalistic clearing of the dead-wood in the economy was the 1991 recession. None of the current crop of non-bank lenders were in business back then."
Is such a scenario about to play out? I'd hope not but a rate like 9.2% is well north of BBSW by about 6%. Not investment grade.
Tend to agree. Coolabah Capital is one of the better houses around for pricing debt; mainly works with insto money.I like Joye,...
As with all investments in Plenti, you have the protection of the provision fund, which currently has over $13 Million in it, and which for the last 10 years has ensured not a single $1 of principle or interest has been lost by any Plenti investors.And as always, risk and reward!
Christopher Joye, often a fear-mongerer, wrote last week:
" ....the industry sector with the highest proportion of zombie [companies] in Australia is real estate, including construction, residential developers and commercial property, which is one reason why banks do not normally lend much to these companies. They have instead been forced to seek finance from non-bank lenders that charge higher interest rates in exchange for taking on the risk that these zombies default on their debts.
"The looming global recession has all the makings of a mega default cycle that will see many zombies wiped out in both the corporate and household sectors. The last time we had this sort of cathartic capitalistic clearing of the dead-wood in the economy was the 1991 recession. None of the current crop of non-bank lenders were in business back then."
Is such a scenario about to play out? I'd hope not but a rate like 9.2% is well north of BBSW by about 6%. Not investment grade.
Good morning
leading up to 2019 i decided i needed extreme flexibility so went for a 'saver account ' that paid monthly interest on daily balancesShould get a sizeable lump sum soon, some will go into TD, saving accounts
For 12 months TD, judo seems the best TD, and savings i will go rabobank.
Anyone aware of little known gens, better opportunities for TD, saving accounts?
I know about canstar, etc comparison tools
Of the mainstream banks, it looks like 5% is about the best.Should get a sizeable lump sum soon, some will go into TD, saving accounts
For 12 months TD, judo seems the best TD, and savings i will go rabobank.
Anyone aware of little known gens, better opportunities for TD, saving accounts?
I know about canstar, etc comparison tools
I locked my last one last week above 5%.but we all might suffer with lower interest on our day to day cash i am afraidyin and yang ... from the press
.
The nation’s largest banks are beginning to ratchet up discounts on home loans once again, threatening a fresh outbreak of the “mortgage wars” and driving them to punish savers to protect profit margins ahead of an expected interest rate cut.
It comes just as bank net-interest margins – a core measure of profitability – have only recently begun to stabilise after years of deterioration. While margins usually expand when interest rates rise, the major banks competed away the benefits in an intense battle for borrowers refinancing fixed-rate mortgages.
The pain had eased in the past six months as lenders prioritised returns over the size of their loan books, but Jarden analyst Jeff Cai said loan discounting had come back to life with “more benign deposit competition”.
The Australian Financial Review revealed on Tuesday that the Commonwealth Bank, National Australia Bank and ANZ all made super-sized cuts to term deposit rates in recent days, in some cases by up to 80 basis points...
Hey GG what have you been looking at so far, I think those accounts where you top up once a month at 5% variable are looking the best at this stage. I'm not keen on small banks, not when it's a decent some of money.I have a term deposit due for renewal shortly, 12 mo., are there any stand out best rates available?
gg
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?