AMP chief executive Craig Dunn has scoffed at attempts by NAB to ease the competition regulator’s concerns over its $14n plans for AXA Asia Pacific. (The Australian)

Australian banks’ expectations for margins have “significantly” deteriorated, according to a UBS report. The investment bank in July undertook its second survey of Australia’s bank chief financial officers to assess their key financial drivers and expectations. (The Australian)

Regulations to restrain leverage in the global financial system will be needed to lessen the risk of another financial crisis, Reserve Bank of Australia assistant governor Guy Debelle says. (The Age)

QBE has denied reports it has named a likely successor for QBE CEO Frank O’Halloran. (Sky News)