A modest paucity of information today but if you missed the past few days’ news then there is lots and lots and lots to discuss!
A useful nugget all the same from Australia, interesting to see how keen the banks are to play ball in Australia, then again they do have capital…
AUSTRALIA’S two largest banks have joined forces with the NSW government to invest $10 million in a new social benefit bond to keep at-risk families together.
The O’Farrell government budgeted $5.75m this financial year to establish the second bond of its type in the state, which will raise private capital from the Commonwealth Bank, Westpac and other investors they bring on board.
Most of the investment allowable under the bond delivers protected capital and a return of 10 per cent after the bond matures in five years, if the social program does what it sets out to do. The alternative is a higher return on capital that is not guaranteed.