Australian banks

From S&P: The number of delinquent housing loans underlying Australian prime residential mortgage-backed securities was unchanged in December from November, according to a recent report by S&P Global Ratings.

Big iron is off again in Dalian down -1% so far after heavy overnight falls.

Via Banking Day: APRA will insist on more consistent rules on the assessment – and reassessment of borrowers over loan serviceability, a measure intended to bolster other rules that, in effect, may restrain credit growth.

Iron ore futures are flat after overnight falls suggesting a decent hit tomorrow but holding on despite Chinese house prices and sagging coking coal futures.

Cross-posted from The Conversation: Australian Prudential Regulation Authority (APRA) chairman Wayne Byers has made it clear the bank regulator will be cracking down on bank capital levels this year.

The Big Iron rocket is punching skywards again today as Dalian adds another 1% to overnight gains: FMG is powering towards its highest intraday price since the GFC and will presumably break the closing price today: A technician would suggest an $8 target then on to the all time high.

By Leith van Onselen A day after ANZ bank warned that Auckland’s housing shortage would worsen in the period ahead, ratings agency Standard and Poors (S&P) has followed suit.

These folks are pathetic: Scott Morrison’s communications director has left the Treasurer’s office abruptly amid a storm over the government’s relationship with the big four banks and the appointment of former state Labor premier Anna Bligh to lead the Australian Bankers’ Association.

Big Iron is firm today as China has announced the suspension of coking coal imports from North Korea.

Guest post from Kate Mackenzie of the Climate Institute. APRA’s Geoff Summerhayes on Friday delivered a whole speech entirely about climate change risk at the Insurance Council of Australia conference on Friday. It’s the first time any of Australia’s financial authorities have so clearly addressed this topic (although many of their international peers have been doing so almost two years).

Let us recall that right now there are no fewer than seven Australian banking inquiries underway or recently concluded: a New York court investigating BBSW rorting; same at ASIC; Parlimentary hearing into banking whatever; Ombudsman Small Business Loans Inquiry; an industry inquiry into banking remuneration; a new industry funded victims tribunal; APRA investigating “risk culture”.

No time wasted here betraying the Australian people: Former Labor Premier Anna Bligh has rejected her party’s calls for a banking royal commission, after signing on to be the next chief lobbyist for Australia’s major banks.

From the ABC, the lunatics are in complete control now: A Federal Government MP has devised a “creative” solution to the housing affordability crisis.

OMG: Sydney, 17 February 2017: The Chairman of the Australian Bankers’ Association, Andrew Thorburn, today announced the appointment of Anna Bligh to lead the ABA as it continues its work to strengthen trust and confidence in banking and deliver better outcomes for customers.

Via Banking Day: The carnival of outsider analysis of public domain data on at least one hot topic in Australian banking comes with a vital caveat, Commonwealth Bank claimed yesterday at an investor briefing.

Dalian is up again today though not at new highs: Big Iron is trailing with FMG now in clear air once more: I personally think that the miners are fairly priced here.

Via Martin North: Today the CBA has announced changes to some mortgage rates: interest only home loan rates for investors will rise by 12 basis points and Viridian Line of Credit (VLOC) products will increase by 4 basis points.

From Domainfax: Macquarie Bank property borrowers will have to disclose their spending on everything from footy to fashion under tough new credit rules about to be introduced.

From Gotti today: If the banking industry follows the Commonwealth Bank-owned Bankwest and tightens the criteria for negatively geared loans, we will see a fall in dwelling prices in parts of Sydney and Melbourne.

By Leith van Onselen After narrowly holding-off a banking Royal Commission in September, internal pressure continues to build on the Turnbull Government for a warts-and-all inquiry into Australia’s banking sector.

Will no one think of the specufestors!

Dalian is open and popping again, though 700 this time.

Oh dear!

Dalian is roughly flat today after overnight gains: Big Iron is modestly up too though FMG’s possible double top still lurks: Big Gas is rebounding after OPEC minister comments supported oil: Big Gold is off.

By Leith van Onselen After narrowly holding-off a banking Royal Commission in September, it is back on the political radar with Coalition MP George Christensen pledging to support Bob Katter’s banking Royal Commission bill.