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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

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BFCSA: Banks fear rate rises may leave banks exposed - to dirty deeds we assume

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Interest rate rises may leave banks exposed

Shaun Drummond April 29, 2014

Sky's not the limit: Barclays has concerns about Australia's housing market.

Exposed: Interest rate risk has jumped from 30th in 2012 to 6th on a list of concerns for banks, according to a PwC survey. Photo: Nic Walker

Australian lenders are growing more fearful of how rising interest rates could reduce their customers' ability to repay their loans, a comprehensive survey of global banks by PwC has shown.

The high exposure of Australian banks to mortgages – around half of their lending is made to residential housing – has seen interest rate risk jump from 30th in 2012 to 6th on a list of concerns for banks, according to a PwC biennial survey, which follows several analysts and fund managers raising the high indebtedness of Australian households as being an increasing risk for bank valuations.

The impact of tougher regulation since the crisis on growth is now the top worry in Australia and globally. The issue of regulation has been raised by the banks in their submission to the financial system inquiry. The survey also shows banks are increasingly paranoid about how their reputations could be damaged by social media.

Australian banks ranked poor "sales and business practices" and the "pricing of risk" second and third, much higher than their overseas counterparts. Mortgage competition in Australia has hotted up in the past six months, putting pressure on lending standards, and the survey shows banks are aware of the risks of inappropriate lending and the potential for price competition to reduce margins.

ANZ Banking Group reports its interim results on Thursday, followed by Westpac Banking Group on Monday next week and National Australia Bank on Thursday next week.

Despite Australia's interest rates (the cash rate was left unchanged at 2.5 per cent on April 1) still being higher than many other developed countries, rates were only the 12th biggest concern globally.

http://m.smh.com.au/business/banking-and-finance/interest-rate-rises-may-leave-banks-exposed-20140429-37enp.html

 

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