AGP Executive Report
Last update: 5 hours agoDebt Stress: New Zealand hardship accounts rose 7.8% year on year to 15,300 in October. Mortgages made up 38% of cases, while personal-loan hardship jumped 32% and consumer credit defaults rose 21%. Rate Pressure: Australia’s central bank raised rates for the fifth time this year, to an 18-year high. Macquarie says it will pass the increase on to variable mortgage customers and lift rates on savings accounts. Payments: New Zealand’s Akahu is promoting Pay by Bank as a lower-cost alternative to card payments, charging businesses up to five cents per transaction. Card Security: A hack of a Japanese bus-booking site may have exposed 6,949 sets of credit-card details, including security codes; customers were notified nearly a month after the breach was found. Savings: Sri Lanka’s Fintrex Finance relaunched its Dream Plan, offering eligible customers a promotional 12.75% annual rate on recurring deposits, subject to terms.
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