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  • CRO Panel Discussion 2014: Risky Business

    Speaking at this year’s AB+F Chief Risk Officer Panel Discussion in Sydney, sponsored by SAS and hosted by SAS director, financial services, Paul Franks, Macquarie Group chief risk officer Stephen Allen pointed to the Scottish referendum as a timely [more]

  • Murray Reflects On Global Trends

    Speaking at the launch of the Australian Financial Markets Association (AFMA) annual report on financial markets in Sydney earlier this month, David Murray, chairman of the financial system inquiry, touched on some key conundrums his inquiry was weig[more]

  • Superannuation Thought Rndtbl: Reinventing Super

    A high-calibre panel explored the many and varied strategic issues facing the superannuation industry over the medium and long term at recent roundtable in Sydney. Andrew Starke reports. [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 celebration: 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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