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19 September 2026
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With APRA phasing out bank hybrids from 2027, investors must reassess these complex instruments. A synthetic hybrid strategy may offer similar returns but with greater control and clearer understanding of risks.
If you’re struggling to replace the hybrid exposure in your portfolio, you’re not alone. Subordinated debt is an option, and here is a guide on what it is and how it can fit into your investment mix.
APRA has released a plan to phase out bank hybrid securities and replace them with capital it regards as cheaper and safer. The transition will impact hybrid markets, funding spreads, and investor strategies.
APRA is investigating bank hybrids to better secure bank capital and the broader financial system. The problem in Australia is most hybrids are held by 'retail' investors who may not understand the risks.
Hybrid securities have gained popularity, though that faith was shaken when Credit Suisse bonds were wiped out. What's overlooked is that it strengthens the case for owning superior quality Australian bank T2 bonds.
Most Australian investors chasing the extra yield on major bank hybrids, or T1 securities, limit their activity to the domestic market, but there is a disconnect in pricing creating better opportunities offshore.
With stronger capital positions, improved brand equity and the potential to benefit from a robust post-pandemic recovery, the global banking sector is presenting significant opportunities for investors.
The answer to whether the US inflation increase will prove temporary or permanent depends on the rates of growth of the quantity of money. It needs to be brought down to about 0.3% a month, and that's a problem.
It’s been 21 years since the RBA sold the majority of Australia’s national gold reserves. The decision cost the nation AUD5 billion. Is it time to rebuild gold reserves with the opportunity cost now much lower?
Changes to banking regulations have led to higher interest rates on bank loans for SMEs and personal loans, pushing borrowers towards the rapidly growing new segment of non-bank lending for faster and better service.
Investors received a wake-up call to the potential risks of hybrid and subordinated securities following the collapse of Banco Popular Espanol, and the price falls in Australian hybrids shows the market took notice.
The implications for hybrids, bank margins and bank fees from the increase in the risk-weighting of residential mortgages and learning our banks are not top quartile among the capital levels of global banks.
Conventional wisdom encourages retirees to preserve superannuation. But if those likely to qualify for the Age Pension later in life spend a little more today, it may deliver higher lifetime income and a more stable retirement.
Fear of running out has become a defining retirement anxiety. Why do some retirees die with substantial wealth while others deplete their nest egg? Evidence suggests the answer is more complicated than we think.
Tax rules have changed, but many investors are still using yesterday’s strategies. Insurance bonds may offer advantages for those seeking greater control, tax efficiency and certainty about their wealth.
Treasury’s latest CGT reform draft delivers a win for testamentary trusts and deceased estates, exempting estate-derived gains from the 30% floor. However, questions on death and divorce rollovers remain unresolved.
Reversionary pensions have long been a staple of SMSF estate planning, but are they still the best option? Meg Heffron revisits a once-clear favourite and asks whether changing super rules have shifted the balance.
The 4% rule has long been retirement's gold standard. But after a difficult period for investors, fresh analysis suggests a more conservative approach may significantly improve the chances of making savings last.