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  1. #741
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    From what I read, these measures end up costing the borrower more over the life of the loan so not exactly bad news for the lenders?

  2. #742
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    Quote Originally Posted by thegreatestben View Post
    From what I read, these measures end up costing the borrower more over the life of the loan so not exactly bad news for the lenders?
    Extending the length of the loan naturally means that more interest is paid over the longer period. All parties will be hoping that this also improves the prospects for eventual repayment.

  3. #743
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    Looks like ANZ will pay a dividend in today's announcement

  4. #744
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    Quote Originally Posted by Lion_graf View Post
    Looks like ANZ will pay a dividend in today's announcement
    The dividend was announced a few weeks ago. Today's announcement advises the DRP price and the exchange rate to NZD. Payment date of 30 September is unchanged.

  5. #745
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    Just curious if anyone knows, as sure as the sun rises each day, everyday at midday (when the ASX opens in Oz), trades suddenly appear in market depth, 400 shares in each parcel, one trader, and both the sell and buy sides. Eg. sell side 19.20, 19.21, 19.22 etc, all one seller with 400 shares. Likewise on the buy side 19.19, 19.18, 19.17 etc. Whats the purpose of this, I assume its a bot, but where is the profit in trying to influence the price each side? Potentially buying and selling from itself?

  6. #746
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    Quote Originally Posted by Gregnz View Post
    Just curious if anyone knows, as sure as the sun rises each day, everyday at midday (when the ASX opens in Oz), trades suddenly appear in market depth, 400 shares in each parcel, one trader, and both the sell and buy sides. Eg. sell side 19.20, 19.21, 19.22 etc, all one seller with 400 shares. Likewise on the buy side 19.19, 19.18, 19.17 etc. Whats the purpose of this, I assume its a bot, but where is the profit in trying to influence the price each side? Potentially buying and selling from itself?
    Just the normal opening auction. As far as I know - all stock exchanges are doing this for opening and closing - helps to avoid funny spikes at the start and end of trading. While bots are these days involved as well - this tradition ways predates the invention of trading bots (and does not need them).

    https://rivkin.com.au/resources/unde...sing-auctions/
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  7. #747
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    Great, thanks. I'm just not sure with ANZ if its something just related to opening and closing action. Its happening with ANZ at all times of the day, but only appears once the ASX opens, and also appears on the NZX from midday. Its clear its a bot trying to drive the price up or down, I just cant get my head around what it actually achieves as I imagine it ends up gobbling up its own shares during the process. For ANZ its often the only trader trading, as all parcels are 400 shares.

  8. #748
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by Gregnz View Post
    Great, thanks. I'm just not sure with ANZ if its something just related to opening and closing action. Its happening with ANZ at all times of the day, but only appears once the ASX opens, and also appears on the NZX from midday. Its clear its a bot trying to drive the price up or down, I just cant get my head around what it actually achieves as I imagine it ends up gobbling up its own shares during the process. For ANZ its often the only trader trading, as all parcels are 400 shares.
    Not sure - 400 ANZ shares are not an unreasonable parcel size ... not quite what most bots would trade (remember - bots don't pay a minimum fee per trade ...).

    As well - selling to oneself would be blatant market manipulation and illegal. While things like that might happen from time to time, I would not assume that as the default explanation.

    As well - if anybody would want to manipulate share prices - this clearly would be easier with a less liquid stock.
    Last edited by BlackPeter; 14-09-2020 at 11:35 AM.
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  9. #749
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    Is the 'happy time' returning to banking? Australia unwinds it's onerous regulation.
    Last edited by Tomtom; 25-09-2020 at 01:57 PM.

  10. #750
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    Quote Originally Posted by Tomtom View Post
    Is the 'happy time' returning to banking? Australia unwinds it's onerous regulation.
    Thanks for that
    Aussie retail banks doing well today but I wouldn't say its happy times
    For clarity, nothing I say is advice....

  11. #751
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    This always happens. Regulators come in and go heavy handed and over time the regulations get slowly erroded to a point that we are back at close to where they started. All that happens is customers have to declare more things and pay more somewhere along the line. A great day for my holdings I have to say

  12. #752
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    Quote Originally Posted by Tomtom View Post
    Is the 'happy time' returning to banking? Australia unwinds it's onerous regulation.
    From the article:

    "As part of a sweeping overhaul of so-called responsible lending obligations, the government will allow banks to rely on income and spending information provided by borrowers when assessing loan applications, rather than doing their own lengthy verifications, (Australian) Treasurer Josh Frydenberg said Friday."

    Apart from reducing the 'double verification' paperwork by customers and banks, the underlying loans are still going to be the same. The article talks about reducing 'excessive risk aversion' by banks. But surely the opposite is true. If the banks don't spend any time evaluating the borrowers loan credentials themselves, there will be greater uncertainty from a bank perspective. So they will be more risk averse. IOW the process of taking out loans will be cheaper (cut by half as the article suggests). But less loans will be approved.

    "Caught in the regulatory cross-hairs, the nation’s biggest lenders became cautious -- stifling credit to the economy even with borrowing costs at record lows."

    Sounds like what happened in New Zealand with the government guaranteeing 80% of new bank loans and urging the banks to have loose purse strings. The problem is, under this arrangement, banks must still shoulder the costs of 20% of any loan that goes bad. So the take up by banks of the new Covid-19 inspired scheme in NZ was less than expected.

    "Said Kyle Rodda, an analyst at IG Markets Ltd. “There’s a cost element to it -- lower compliance costs, lower regulatory costs -- but banks’ bread and butter is lending out money, and the more money you can lend out the more money you’re going to make.” "

    How much money do the banks make on bad loans? Never mind. The CEOs of the big banks commenting in the article think it is a good thing. But will they follow through?

    SNOOPY
    Last edited by Snoopy; 25-09-2020 at 04:08 PM.
    Industry shorthand sees BNZ employees still called 'bankers' but ANZ employees now called 'anchors'. Westpac has opted out of banking industry shorthand...

  13. #753
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    Default Covid crap

    Went into a branch today in a part of NZ that hadnít seen a single case in 6 months and is at Level 1 and was asked to sign in using the app. I refused and was asked to sign in manually. I also refused and reminded them it was Level 1 so no requirement to sign in. Was told it was a bank requirement. Walked out and am considering changing banks. I have business personal and trust accounts and have had enough of all the bull**** that passes for H&S in 2020. We have saved 400 lives this year from the lockdown disrupting normal flu (non Covid flu) so maybe letís just have a lockdown every autumn and destroy the economy as the evidence shows we will hundreds of lives guaranteed!

  14. #754
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    Oh dear.. systems like this are coming and in a world where virus exists there will be more systems. Get used to it and train yourself to see it as an economic hardening of the system. Forget your life before, its not coming back any time soon. See the new world people, its been here for a while as Bill Gates pointed out and we did not take notice. Notice now and get used to a new world, new systems because be thank full this is not as bad as it can get.

  15. #755
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    Quote Originally Posted by Arbroath View Post
    Went into a branch today in a part of NZ that hadn’t seen a single case in 6 months and is at Level 1 and was asked to sign in using the app. I refused and was asked to sign in manually. I also refused and reminded them it was Level 1 so no requirement to sign in. Was told it was a bank requirement. Walked out and am considering changing banks. I have business personal and trust accounts and have had enough of all the bull**** that passes for H&S in 2020. We have saved 400 lives this year from the lockdown disrupting normal flu (non Covid flu) so maybe let’s just have a lockdown every autumn and destroy the economy as the evidence shows we will hundreds of lives guaranteed!
    Try opening accounts for your businesses, trusts and personal banking. After the hours of forms, trustee declarations, ID requirements and legal costs etc I'd just scan the COVID app if I was you

  16. #756
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    "Try opening accounts for your businesses, trusts and personal banking"


    yes its a nightmare but the westpac saga was appalling and after the GFC we made the mistake or trading the banks in auss.... live and learn and always do your own research... turned out you needed hire investigators... just buy buffet? yep that should have been the game and ive course quantum.

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  18. #758
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    whatch out with Y H.. may not be as secure as you need , same with bloom B.

  19. #759
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    The group ANZ result is down a lot but it is all explained by provisions and an increase in costs, which is bound to be covid.
    I have no clue but I keep thinking heaps of these provisions wont be required as things eventually return to a post-covid normal. Of course there will be some actual writeoffs, but imo not to the scale of whats being set aside. Only time will tell but for now I am hanging on to my underwater Aussie banks
    For clarity, nothing I say is advice....

  20. #760
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    Quote Originally Posted by peat View Post
    The group ANZ result is down a lot but it is all explained by provisions and an increase in costs, which is bound to be covid.
    I have no clue but I keep thinking heaps of these provisions wont be required as things eventually return to a post-covid normal. Of course there will be some actual writeoffs, but imo not to the scale of whats being set aside. Only time will tell but for now I am hanging on to my underwater Aussie banks
    I'm still above water on ANZ as I topped up quite a bit in April at $16 and $17. Lucky NZ and Aus have handled COVID well. As you say, there are still likely to be business defaults on the way. Low interest rates won't help for the foreseeable future but the strong housing market protects them from any real carnage - long may that last. They likely to be under pressure for a while. If interest rates ever rise again, banks are likely to be one of the shares that benefit, but that might be a lifetime away.

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