Spike in lending losses causes Colonial to freeze mortgage fund withdrawals (again)

Written by admin on January 15, 2010 – 12:48 pm

The Commonwealth Bank of Australia’s Wealth Management Provider, Colonial First State has been forced to freeze withdrawals from a $850 million mortgage income fund after an increase in bad debts. Colonial has $2.6 billion in funds invested in mortgages.

» Colonial Freezes A$850 Million Mortgage Fund, Herald Says – Bloomberg, 14th January 2010.

Posted in Australian economy, Australian Housing | Comments Off

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