Business
Westpac pulls out of AUD/NZD clearing for foreign banks – The Australian Financial Review
In the wake of a monster $1.3 billion AUSTRAC penalty, Westpac’s top brass have been going through the bank’s risk exposure with a fine tooth comb.
In the wake of a monster $1.3 billion AUSTRAC penalty, Westpac’s top brass have been going through the bank’s risk exposure with a fine tooth comb.
Westpac is withdrawing from clearing for overseas banks in Aussie and New Zealand dollars Darrian Traynor
And Street Talk understands one of the functions the bank has deemed too risky or complex to keep performing is executing clearing for overseas banks’ accounts in Aussie and New Zealand dollars.
It is understood Westpac is in the process of withdrawing…
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