|Bid||26.89 x 0|
|Ask||24.74 x 0|
|Day's Range||26.73 - 26.95|
|52 Week Range||22.52 - 29.00|
|Beta (3Y Monthly)||0.94|
|PE Ratio (TTM)||13.81|
|Forward Dividend & Yield||1.82 (6.76%)|
|1y Target Est||28.81|
Moody's Investors Service ("Moody's") has assigned ratings to British Airways, Plc's new Pass Through Certificates (EETCs), Series 2019-1 to be issued by British Airways Pass Through Trust 2019-1AA and British Airways Pass Through Trust 2019-1A, respectively: $542.971 million Class AA at Aa2 with scheduled final payment date of December 15, 2032 and legal final maturity date of June 15, 2034 and approximately $263.908 million Class A at A3, with scheduled final payment date of June 15, 2029 and legal final maturity of December 15, 2030 (together, the "Certificates"). The Baa3 Long-Term Issuer Rating for British Airways and the positive outlook are unaffected by this rating action.
Moody's Investors Service has assigned definitive ratings to notes issued by Perpetual Corporate Trust Limited, as trustee of Metro Finance 2019-1 Trust. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.
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(Bloomberg) -- New Zealand plans to introduce a bank deposit protection regime to bring it into line with other developed nations and increase public confidence in its lenders.“New Zealand has been an outlier for many years in that we don’t have a formal deposit protection regime to support Kiwis if a bank were to fall over,” Finance Minister Grant Robertson said in a statement Monday in Wellington. While no decisions had been taken yet on how the system would be funded, deposit protection regimes elsewhere were often based on a bank levy, he later told a news conference.New Zealand’s banking system is dominated by four big Australian lenders -- Australia & New Zealand Banking Group Ltd., National Australia Bank Ltd., Westpac Banking Corp. and Commonwealth Bank of Australia -- which together hold around 90% of deposits. Separately, the RBNZ has told the banks it wants them hold more capital to make them more resilient.Adopting deposit protection is part of a review of the central bank’s underlying legislation and follows reports from the OECD and IMF that said New Zealand’s banking system might be more vulnerable in a crisis without one. The government will also give the RBNZ more tools to bolster prudential supervision as part of the review.Limited ProtectionNew Zealand is proposing deposit protection of up to NZ$50,000 ($33,000), which would cover 90% of individual bank deposits, but only about 40% of the total value, Robertson said. Final decisions and details will be announced in early 2020.The proposed regime would put the nation toward the lower end of protection when compared to similar economies, Robertson said. Australia introduced a guarantee on deposits of up to A$250,000 ($174,000) in 2008 at the height of the global financial crisis, while the U.S. guarantees deposits of up to $250,000 and the U.K. guarantees up to 85,000 pounds ($108,000).Robertson said the next phase of the review of the RBNZ will include looking at the bank’s supervision and enforcement powers, and whether penalties are tough enough to discourage certain behaviors.The government is considering adopting elements of overseas frameworks, which would increase the responsibilities and accountabilities of senior executives for the actions of New Zealand’s banks and licensed deposit-takers, he said.‘Stricter Regime’Models in Australia and the U.K. go a step further than New Zealand’s current director-attestation regime for banks by also holding senior managers to account for the prudent management of their bank within their area of responsibility, he said.“We want to look at the balance between the more light-handed regulatory model that the Reserve Bank has traditionally had, versus what we’ve been advised by the IMF and others over the years should be a stricter regime,” Robertson said.The announcement comes after the RBNZ last month censured ANZ Bank New Zealand Ltd. over persistent failure to comply with rules around modeling risk capital requirements.Earlier Monday, the RBNZ requested that ANZ New Zealand provide two independent reports to assure the central bank it is operating in a prudent manner. Last week, ANZ New Zealand Chief Executive Office David Hisco quit after a review revealed mis-characterization of personal expenses.New Zealand Prime Minister Jacinda Ardern said Monday there was no need for New Zealand to follow Australia and hold a Royal Commission into banking.The government has also taken a number of in-principle decisions to guide the review of the RBNZ Act:The RBNZ will retain a prudential supervisory role, rather than separating it into a new agencyA new governance board will be established that will be given statutory authority over all RBNZ decisions apart from monetary policy The Treasury Department will be the RBNZ’s monitoring agent The separate regulatory regimes for banks and non-bank deposit takers will be merged into one To contact the reporter on this story: Tracy Withers in Wellington at firstname.lastname@example.orgTo contact the editors responsible for this story: Matthew Brockett at email@example.com, Peter VercoeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Moody's Investors Service has assigned the following definitive rating to the bonds issued by Perpetual Limited (the Trustee) in its capacity as trustee of the SMHL Series Securitisation Fund 2019-1 (the Trust). "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. The transaction is a securitisation of first-ranking mortgage loans secured over residential properties located in Australia.
Moody's Investors Service has assigned provisional ratings to notes to be issued by Perpetual Corporate Trust Limited, as trustee of Metro Finance 2019-1 Trust. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.
Australia's central bank cut rates to a record low on Tuesday and signalled willingness to go further as a worsening Sino-U.S. trade war raises recession risks for the world economy, pushing policymakers into what could be a global monetary easing cycle. RBA Governor Philip Lowe said the rate cut was designed to support employment growth and lift inflation, which has consistently undershot its 2%-to-3% medium-term target. "It is possible that the current policy settings will be enough – that we just need to be patient.
Moody's Investors Service has upgraded the ratings on three classes of notes and one counterparty instrument rating (CIR) issued by two Interstar Millennium Series residential mortgage backed securities (RMBS). The upgrade of the Class A currency swap CIR in Interstar Millennium Series 2004-2G Trust is prompted by the upgrade of the Class A notes in the transaction.
Moody's Investors Service has upgraded the ratings on the Class A2 and Class A3 notes issued by Interstar Millennium Series 2003-3G Trust. Factors that could lead to a downgrade of the ratings include (1) a performance of the underlying collateral that is worse than Moody's expectations, (2) a decrease in available credit enhancement for the notes, and (3) a deterioration in the credit quality of the transaction counterparties.
TEL-AVIV, Israel, TORONTO and SYDNEY, May 31, 2019 /PRNewswire/ -- As part of an international banking alliance, Bank Leumi of Israel (LUMI.TA), CIBC and National Australia Bank (NAB.AX) today introduced Global Alliance Fintech Link, a global online portal developed to help drive client-focused innovation by facilitating collaboration between the banks and financial technology firms (fintechs). Through the digital platform, fintechs can submit creative technology solutions in response to a wide range of opportunities identified by the banks. Upon receiving the proposals, the banks will consult directly with the technology firms.
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About 150 companies have launched a London lawsuit against Britain's Clydesdale Bank and its former owner, National Australia Bank, alleging they were deceived when they took business loans from the bank up to 18 years ago. RGL Management, a company managing the group claim for the small and medium-sized businesses, said on Thursday it expected to add hundreds more claimants to the lawsuit by year-end and recover hundreds of millions of pounds in losses. James Hayward, the CEO of RGL Management, said Clydesdale's conduct towards its customers has been "utterly disgraceful".
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Moody's Investors Service (Moody's) has assigned the following definitive ratings to notes issued by Permanent Custodians Limited (the trustee) as trustee of Pepper I-Prime 2019-1 Trust. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. The transaction is a securitisation of prime residential mortgage loans originated and serviced by Pepper Group Limited (Pepper).
Moody's Investors Service (Moody's) has assigned the following provisional ratings to notes to be issued by Permanent Custodians Limited (the trustee) as trustee of Pepper I-Prime 2019-1 Trust. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. The transaction is a securitisation of prime residential mortgage loans originated and serviced by Pepper Group Limited (Pepper).
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Moody's Investors Service has assigned definitive ratings to the notes issued by Perpetual Corporate Trust Limited in its capacity as the trustee of the Flexi ABS Trust 2019-1. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.
Moody's Investors Service has assigned the following definitive rating to the notes issued by Permanent Custodians Limited (the Trustee) as the trustee of Pepper Residential Securities Trust No. 20. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.