AGP Executive Report
Last update: 6 hours agoMortgage Shock in Australia: Westpac shares slid after its June-quarter update, with mortgage applications down ~20% since the May budget and the bank forecasting investor housing credit growth to halve next year—dragging the whole financials sector ahead of the RBA decision. Regulatory Push in India: The RBI proposed Basel-aligned leverage ratio changes for global systemically important banks’ India branches and issued tighter loan-recovery rules from Jan 1, 2027, including board-approved recovery policies and bans on coercive practices. Digital Payments in the Philippines: The BSP and PPMI launched Direct Debit PH plus InstaPay Cash-In and InstaPay for Business, raising business transfer limits tenfold to support interoperability and lower fees. Open Banking Fight in the US: The CFPB’s revised open-banking proposal landed at the White House, triggering heavy lobbying from both traditional banks and fintechs over data access, fees, liability, and security. China Liquidity Tap: The PBOC injected 18bn yuan via 7-day reverse repos at a steady 1.40%, keeping short-term funding costs low. Nigeria Safety Nets: NDIC began paying insured deposits to customers of 46 revoked microfinance banks, while the CBN cancelled a planned N700bn T-bills auction amid a liquidity squeeze.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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