In November, Credit growth rose reasonably as consumers and business are still wary about taking on more debt.
Data from the Reserve Bank of Australia (RBA) shows the total value of credit provided to the private sector by banks and other lenders increased by 0.3 per cent in the month, following an identical 0.3 per cent growth in October, September and August.
Lending to businesses experienced a fall yet again last month, this time the largest decline since July, and adding more watchfulness to hopes of a strong recovery. British Bankers’ Association (BBA) released figures that show net lending to non-financial companies fell by £2 billion in November following a drop of £342 million in October.
Plans to allow bank customers to pay cheques into their account by taking photos on their smartphones have been announced.
Customers will now be able to take photograph of the cheque and send it electronically rather than going to the bank in person.
The Australian Prudential Regulation Authority (APRA) enforces the tough rules. In its most recent attempts to ensure safer lending practices, it will demand the big four banks hold an additional 1% for the common equity tier one ratio by 2016.
On Thursday, speaking at National Australia Bank's (ASX: NAB) annual general meeting in Melbourne Michael Chaney, the bank's chairman, cautioned that economic conditions remain mixed and insisted the government not to impose new regulations that could hinder the bank's ability to lend to customers.
The Bank of England said on Thursday, Britain's economic recovery may be at risk if sterling strengthens much further, in its first noteworthy hint of apprehension about the British currency's current rise.
The National Audit Office (NAO) has revealed that a sale by the government in September of a substantial slice of taxpayer-owned Lloyds Banking Group did not make a net profit as the government had earlier claimed and actually cost the taxpayer £230m.
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