Today's Top Stories

Feature Stories

  • Cover Story: Good Tidings for Australia in China

    With no less than three major free trade agreements in the Asia-Pacific region assisting Australian businesses and their banks in accessing new markets, Australia’s leading financial institutions are wisely re-evaluating [more]

  • Cover Story: Rethinking Bank Data

    Prof. Kevin Davis argues that investors are being denied critical information on the grounds of commercial sensitivity. He asks whether banks’ refusal to disclose data is truly “commercial in confidence” or just a “mushroom strategy”.[more]

  • Cover Story: The Key to Retaining Customers

    While the banks have spent a lot of time and energy on enhancing their digital offerings to retail customers, they are leaving themselves pretty exposed on the commercial banking customer side[more]

By the Numbers

US$3.8bn Citi reported 3Q net income of US$3.8bn or US$1.23/share, a top line result which was 74 per cent up on the prior corresponding period and 13 up on the last quarter.

From the Back Page

Americans choke on $1 coin stockpile

The UK newspaper The Telegraph reported recently that a mountain of 1.2 billion dollar coins is sitting unused in US government vaults because the American public is so attached to the traditional dollar bill. The US Mint has been producing vast numbers of the gold-coloured coins after being ordered to do so by Congress in 2005.

American taxpayers could save $500 million (A$524m) a year if they switched from paper dollars, which wear out quickly and must be replaced, to the more durable metal version, according to  the US government accountability office.

Yet demand from banks for the coins has been so low that US$1.2 billion worth – which cost US$300 million to manufacture – are sitting in storage, an investigation by National Public Radio found.

According to The Telegraph, opinion polls show that three-quarters of the American public say they would prefer to carry on using the paper dollar bill, affectionately known as the “greenback”, which celebrates its 150th birthday next year.


Comment: AB+F Blog

Two early for reform: The one-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act passing into law rolled quietly by last month... [more]

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