Borrow

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The Reserve Bank of Australia has made its first call on the official cash rate for this financial year.

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Following much debate about when the RBA would exit its easing policies, the central bank has held the cash rate at a record-low 0.1 of a percentage point for another month.

Speculation is running wild about interest rates rising before the RBA’s long-time ‘deadline’ of 2024, and the RBA appears to be inching into that debate.

Towards the end of last month, RBA assistant governor for economics Luci Ellis reiterated the central bank’s position of “supporting monetary conditions”, noting that the pandemic is not over and that Australia still has a long way to go to achieve an inflation rate of 2-3 per cent.

Commenting on the bank’s latest decision, Harley Dale, chief economist at CreditorWatch, said that it’s “no surprise to anybody”.

Stressing the importance of “not getting ahead of ourselves”, Mr Dale advised against speculation over the future of the economy.

“Right now, nobody knows when circumstances will become appropriate for interest rates to rise and that includes the RBA itself,” Mr Dale said.

“The June 2021 RBA Credit Aggregates and the May results for the CreditorWatch monthly Business Risk Review are just two of many examples of how Australia’s recovery lacks the breadth and depth we require.

“There are holes in the ‘how good are we doing’ headlines, and that includes a sharemarket that is more vulnerable than seems to be the focus that it deserves,” he added.

After conceding last month that the RBA’s conditions for a rate hike are still far from being met, AMP Capital’s Shane Oliver reiterated there is still a way to go to reach wage growth of above 3 per cent and target-zone inflation, particularly with coronavirus still causing periodic problems.

“That said, we expect the conditions for a rate hike to be in place by 2023 so anticipate a 2023 rate hike, ahead of the RBA’s own expectations for no rate hike until 2024 at the earliest,” he added.

However, leading banks disagree with the current time frame set out by the central bank, with many confident the conditions to change monetary policy will be met sooner. 

Last month, both Westpac and Commonwealth bank detailed rate hike predictions, with the latter foreseeing a rate lift as soon as November 2022.

CBA’s head of Australian economics, Gareth Aird, explained that the big four bank’s predictions have been at odds with the RBA’s “2024 at the earliest” forward guidance for months.

“Our message has been consistent and unswerving: the labour market will tighten quickly, and this means that wages and inflation will lift, particularly because the supply of labour is constrained,” Mr Aird said.

Similarly, Westpac opined “game-changing” employment figures will see the RBA lift the official cash rate by as much as 0.75 per cent by the end of 2023, starting with a 15 basis points increase in the first quarter.

“We now expect that the RBA will assess that it has achieved the conditions necessary for the first interest rate hike by the first quarter of 2023,” Westpac’s chief economist, Bill Evans, said at the time.

Researchers, on the other hand, are less confident, with BIS Oxford Economics’ Sean Langcake opining on Tuesday that the wage pressures aren’t quite there yet.

“The labour market continues to outperform expectations, and has weathered the withdrawal of JobKeeper well. But we are still some time from seeing broad-based wage pressures emerge,” Mr Langcake said.

And while the speculations forecasts continue at home, the bank of banks – the Bank for International Settlements (BIS) – issued a warning to its banking peers last month, noting that the rapid rise in house prices across the world, including in Australia, poses serious challenges to recovery.

Judging that “some central banks may have little choice but to tighten”, the BIS warned that postponing normalisation beyond a certain point may actually harm the economy.

“Keeping monetary policy accommodative to support fiscal consolidation could encourage a further build-up of financial imbalances in the private sector,” the BIS said.

“Given the exceptionally low service burdens, it could also induce further increases in government debt. In both cases, the economy’s sensitivity to higher interest rates would rise.”

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From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2021-07-06 04:28:00" ["slug"]=> string(52) "17023:rba-makes-cash-rate-call-amid-wild-speculation" ["parent_slug"]=> string(16) "271:borrow-money" ["catslug"]=> string(11) "275:banking" ["event"]=> object(stdClass)#6203 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(0) "" ["afterDisplayContent"]=> string(0) "" } ["text"]=> string(307) "

The Reserve Bank of Australia has made its first call on the official cash rate for this financial year.

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The last 12 months have done little for Australians facing financial hardship.

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While Australia’s unemployment rate has ricocheted up and down over the last 12 months, ABS data suggests that the level of Australians facing financial hardship remained steady.

According to the Australian Bureau of Statistics (ABS), “In 2020, nearly one in five households (19 per cent) were unable to raise $2,000 within a week for something important.”

The ABS also noted that 21 per cent of households experienced a cash flow problem in the last 12 months, while 23 per cent recorded at least one ‘dissaving’ action over the same period of time.

Another detail here is the difference between couples with dependent children and single parents.

Data collected by the ABS found that the latter were more likely to report an income predominantly made up of a government pension or allowance and less likely to save money on a weekly basis.

The good news here is that this number hasn’t really shifted all that much as a result of COVID-19.

According to ABS data, the level of Australians unable to deal with a sudden $2,000 expense jumped from 16 per cent in 2019 to 20 per cent in 2020.

On the other hand, the material reality that one in five Australians are in a position of financial hardship where they can’t account for an unexpected $2,000 expense is hardly something to be celebrated.

Speaking to nestegg, ClearScore managing director Steve Smyth said that “the factors that drive a high number there are really about the certain types of individuals who struggle to get access to credit”.

While Mr Smyth acknowledged the important role that responsible lending regulations play in the financial ecosystem, he said the downside of these constraints is that “it’s very hard to access $2,000 within a week, if you don’t have it as savings”.

Asked whether this metric is a useful tool for judging someone’s level of financial hardship, Mr Smyth pointed to its capacity to cover both access to savings and access to credit.

He advised consumers to make sure they had a backup plan for access to credit ahead of time, noting that the worst time to try and get credit was right after an unexpected expense or loss of income.

Mr Smyth said that buy now, paper later operators are increasingly stepping in to service customers who are shut out from traditional credit providers, but called it a double-edged sword.

“It’s a positive because for people who are, through responsible lending regulations, shut out of getting access to credit in an emergency, it gives them access to credit.”

On the other hand, “the negative is that because it’s not regulated. I mean, it’s got some self-regulation, but there’s no mandate to have to report to the bureau or to do responsible lending checks.”

“You could sign up for 10 buy now, pay later accounts in about an hour.”

“There’s a risk because people are not assessing whether you’re taking out a reasonable amount of credit for your circumstances. There’s a risk that you will get too much debt.”

According to recent data released by credit analyst ClearScore, the number of BNPL customers with missed repayments has grown by almost 83 per cent.

“Sooner or later, a cohort of consumers will fail to keep up with snowballing repayments that attract steep late fees relative to the amount borrowed,” Mr Smyth warned.

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The last 12 months have done little for Australians facing financial hardship.

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Aussies lodged over 70,000 complains against banks, insurers, super funds, investment firms and financial advisers over the past 12 months, securing as much as $240 million in compensation and refunds.

Write comment (0 Comments) " ["fulltext"]=> string(2689) "

Australians lodged 70,510 complaints with the Australian Financial Complaints Authority (AFCA) over the past year, securing over $240 million in compensation and refunds as well as outcomes such as fee waivers, debt forgiveness and apologies.

In addition, AFCA’s investigations into a range of systemic issues resulted in remediation payments to consumers totalling nearly $32 million in the past financial year. 

The most complained-about product in 2020-21 was credit cards, accounting for 14 per cent of all complains, followed by home loans (9 per cent) and personal transaction accounts (8 per cent). With credit cards, the most common issues were default listings and unauthorised transactions – the latter accounting for 11 per cent of card complaints.  

“Significantly, complaints involving financial difficulty were down nearly 40 per cent from the numbers we saw the previous year,” AFCA’s chief ombudsman, David Locke, said.

“That’s a great outcome and reflects the positive response from government and industry to the impact of COVID.”

However, it’s too early to say “we’re out of the woods”, Mr Locke noted.

“It may be some months before we know the full impact of the end of government emergency support and assistance from financial firms such as deferred loan repayments. And, of course, we are still living with COVID-19,” he cautioned.

Overall, complaints were down 12 per cent on 2019-20, a year that included the initial months of the COVID-19 pandemic and a spike in complaints in areas such as travel insurance. 

In 2020-21, there were 8,303 COVID-related complaints, up from 5,013 in just four months at the end of 2019-20 after the pandemic was officially declared. That translates to an average of 692 a month in 2020-21, down sharply from an average of 1,253 a month from March through June 2020. 

The AFCA data for 2020-21 also shows travel insurance complaints down 22 per cent, as Australians stayed at home, and superannuation complaints down 31 per cent, after a jump the prior year when the government allowed the early release of super at the start of COVID.

On the other hand, complaints related to personal transaction accounts rose 48 per cent, with unauthorised transactions accounting for 29 per cent of those complaints. Also, complaints about electronic banking increased 76 per cent, with unauthorised transactions accounting for 28 per cent of those complaints, and mistaken internet payments accounting for a further 19 per cent. 

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Aussies lodged over 70,000 complains against banks, insurers, super funds, investment firms and financial advisers over the past 12 months, securing as much as $240 million in compensation and refunds.

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Australian consumers might be racking up a bill using BNPL, but less are paying it back on time.

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As consumers have flocked to buy now, pay later (BNPL) operators like Afterpay and Zip over the last year, the number of missed credit repayments has ballooned in size.

According to new data released by credit analyst ClearScore, the number of BNPL customers with missed repayments has grown by almost 83 per cent.

The research also revealed that the number of customers juggling multiple BNPL debts has also jumped 30 per cent.

ClearScore suggested that the quick and easy availability of credit via BNPL services is encouraging consumers to make more purchases based on convenience rather than their capacity to pay back what they owe than they would otherwise.

“Sooner or later, a cohort of consumers will fail to keep up with snowballing repayments that attract steep late fees relative to the amount borrowed,” warned ClearScore managing director Steve Smyth.

“When those debts are sold on to collection agencies, they will show up as multiple defaults, even if the dollar amount defaulted is comparatively small. This is a consumer credit access horror show in the making,” he said. 

Mr Smyth suggested that because there is no external credit health assessment on most BNPL transactions, operators in the space don’t have any way of assessing the level of their customers to financial shock like work lost as a result of Sydney’s recent lockdown.

“The data we have collected shows this is an industry flying blind,” Mr Smyth warned.

“The real issue is that regulators have over-regulated responsible lending and reduced competition in credit for lower-income customers. This removes affordable credit options, so the only option for many consumers is to take out multiple BNPL accounts, without adequately checking affordability. 

He said that “this is building up to be a trainwreck for vulnerable customers and the question for regulators is whether they will prevent substantial consumer detriment – or are they just going to intervene after the real harm is done?”

In recent years, credit card operators and financial advocacy groups have argued for calling BNPL operators like Afterpay to face additional regulated hurdles. 

As put by Financial Counselling Australia CEO Fiona Guthrie, “BNPL providers run a mile at the mention of the word ‘credit’, telling their customers the service is all about better budgeting. What they tell retailers, however, is much closer to the truth – that BNPL encourages people to spend more.”

“What BNPL providers are really doing is turning a loophole in the law into a gaping hole. It is worth remembering that BNPL is available from just a few hundred dollars to $30,000 and the code contemplates even higher amounts,” she said. 

According to her, “If it looks like a duck and quacks like a duck, it is a duck. We should ditch ideology and recognise that BNPL is credit and should be regulated like other credit. If we fail to act, more and more Australians will be harmed.”

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From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2021-07-05 01:00:31" ["slug"]=> string(58) "17009:concerns-raised-over-surge-of-missed-bnpl-repayments" ["parent_slug"]=> string(16) "271:borrow-money" ["catslug"]=> string(15) "276:credit-card" ["event"]=> object(stdClass)#6236 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(0) "" ["afterDisplayContent"]=> string(0) "" } ["text"]=> string(348) "

Australian consumers might be racking up a bill using BNPL, but less are paying it back on time.

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Tens of thousands Australians are set to receive a combined $87 million as a big four bank begins remediation action over failing to notify customers of investing opportunities between 2005 and 2019.

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Westpac said it will remediate customers whose financial advisers may have failed to notify them of corporate actions between 2005 and 2019.

According to ASIC the corporate actions that may have failed to be communicated include buy backs, renounceable and non-renounceable rights issues, share purchase plans and takeovers.

“Westpac’s failure to notify customers of corporate actions means customers may have missed out on various opportunities,” a statement released by ASIC on Friday reads.

“These include purchasing additional shares often at a discount to the market price, the creation of temporary rights or options that can be sold for a profit, and the ability to sell shares and receive a benefit that can be tax advantageous depending on the shareholder’s circumstances.

“Westpac’s remediation covers an estimated 328,000 potential missed corporate action notifications impacting approximately 32,000 customer accounts. This is a complex remediation due to the various types of corporate actions involved.”

Westpac said it aims to compensate most of the affected customers by the end of the year.

“Compensating customers affected by misconduct is a very important part of licensees’ obligations to act fairly, honestly and efficiently. We are pleased to see that Westpac has taken action to remediate affected customers regardless of how much time has passed," ASIC commissioner Danielle Press said.

“We encourage affected customers to engage with the communications from Westpac to understand how they were impacted and to seek further information from Westpac if required.” 

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Tens of thousands Australians are set to receive a combined $87 million as a big four bank begins remediation action over failing to notify customers of investing opportunities between 2005 and 2019.

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The big four banks are offering retail and business customers support as NSW battles through a second lockdown. 

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Australia’s major four lenders have each come out with support for NSW customers who have been negatively impacted by the COVID-19 pandemic. 

NSW Premier Gladys Berejiklian announced a two-week lockdown for Greater Sydney, the Central Coast, Blue Mountains and Wollongong from 6pm on Saturday, 26 June, until midnight on Friday, 9 July.

According to the state's Premier, the restrictions or lockdown measures mean there are only four reasons residents can leave their home including shopping for food or other essential goods and services; medical care or compassionate needs, including getting vaccinated; exercise outdoors, in groups less than 10; and essential work or education, where they cannot work or study at home.

Having an obvious impact on businesses and consumers' livelihoods, the banks were quick to reach out to their customers. 

As New South Wales enters a period of tougher COVID-19 restrictions, NAB group executive, Andrew Irvine, said the bank remains ready to support customers who need help.

“Throughout the pandemic we’ve been there to support customers and our bankers are ready and willing to help any businesses and individuals who need assistance," Mr Irvine said.

Here’s what your bank is offering:

Commonwealth Bank

Australia’s largest bank has announced it is offering retail and business customers impacted by the latest lockdown in New South Wales access to a raft of support and assistance measures. 

CBA’s CEO Matt Comyn said he wanted to assure CBA customers who need assistance that the bank has put measures in place to offer support, including short-term repayment deferrals.  

“We know this lockdown will have an impact on the Sydney-based business community and we’ve been speaking to our customers to understand if they need assistance. Our business customers have demonstrated great resilience throughout the pandemic and we’re committed to doing what we can to help them through this lockdown period and beyond,” he explained.

Business customer support

• Repayment deferrals on asset finance and eligible business loans;
• A refund of merchant terminal fees for up to 90 days for eligible customers;
• A waiving of fees and notice periods on Cash Deposit and Farm Management Deposit accounts for eligible customers;
• Specialised tailored support for larger business customers; and
• CBA loans provided through the Federal Government-backed SME Loan Recovery Scheme. This offers eligible businesses loans up to $5 million with variable interest rates from as low as 2.6 per cent p.a. for secured loans, and from 2.85 per cent p.a. for secured loans with a repayment holiday from 12 months. Unsecured loans are available with rates from 3.25 per cent p.a., and from 3.75 per cent p.a. with a repayment holiday from 12 months.

Retail customer support 

• Accessing money you may have available in redraw in your eligible loan;
• Restructuring your home loan debt;
• Switching to a Fixed Rate home loan;
• Reducing your repayments to the minimum monthly repayment amount; and
• Using money in your Everyday Offset (if available to you).
• CBA has also introduced a freeze on forced sales until September 2021 this year for eligible customers impacted by the COVID-19 pandemic who are struggling with repayments.

Westpac

Westpac has outlined the support measures available to help business and consumer customers impacted by the latest COVID-19 restrictions in Sydney.

Customers in need of financial assistance can access the bank's dedicated support team who will tailor assistance to suit the customer’s circumstances.

“We want our customers to know we are here to support them through this period. Westpac offers a range of options tailored to suit the customer’s individual circumstances, including reduced or deferred repayments and low interest rate loans,” said Chris de Bruin, Westpac Chief Executive Consumer & Business Banking.

Business customers

• Case management support for our small business customers experiencing financial difficulty.
• Reduced or deferred repayments on asset and equipment finance and eligible business loans.
• Business loan restructuring with no fees incurred.
• Referrals to financial counsellors or other support services.
• Eligible customers may be able to access low interest rate business loans through the Federal Government’s SME Recovery Loan Scheme.

Consumer customers

• Credit card repayment and interest rate reductions for a period of time.
• Home or personal loan repayment deferrals or reductions, interest rate reductions and loan term extensions.
• Fee waivers across a range of products.
• Restructuring of debt.
• Referrals to financial counsellors or other support services.

NAB

The National Australia Bank highlighted how the COVID-19 pandemic is impacting every business person and consumer differently.

“Our bankers will work with customers to understand their individual situation, the pressures they’re under and how we can then tailor support specifically for them,” Mr Irvine said.

“Our bankers are experienced and well versed with helping step customers through things and be able to put in place solutions to help.”

Business customers 

• Restructuring of business facilities along with reduced or waived applications fees;
• Deferral of principal payments across multiple product options;
• Waiving costs and charges for withdrawing term deposits early giving customers quick access to cashflow;
• Credit card and personal loan relief;
• Professional wellbeing support.

Consumer customers 

• Providing a temporary reduced payment arrangement;
• Giving a temporary payment break;
• Where appropriate, restructuring a home loan or consolidating debt to suit different situations;
• Wellbeing and financial counselling support. 

ANZ

ANZ has also announced an extended support package for small business and home loan customers affected by the latest COVID-19 lockdown in New South Wales.

While not providing media a list of all the ways the bank will help,  ANZ has announced it is extending support for retail customers who apply with measures including short-term payment relief, waiving fees, restructuring home loan debt or switching to a fixed rate loan. 

Business customers can also access short-term payment relief on asset finance or business loans, receive a refund on merchant terminal fees and have some other fees waived. 

ANZ’s Group Executive Australia Retail and Commercial Banking, Mark Hand said the bank knows this lockdown will have a big impact on our customers in and around Sydney.

"Like the lockdowns we’ve seen in other states, we know it can be some time before the real effects are felt by families and businesses.

“We want our customers to know there is help available if they need it in this difficult time. Our teams are standing ready to assist and will work with customers to understand their specific needs and help tailor individual solutions,” Mr Hand concluded.

The bank urged customers who need further details to visit their website. 

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The big four banks are offering retail and business customers support as NSW battles through a second lockdown. 

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["title"]=> string(17) "First article URL" ["name"]=> string(3) "url" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-07-09 01:32:54" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#5895 (3) { ["data":protected]=> object(stdClass)#5898 (1) { ["relative"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#5897 (3) { ["data":protected]=> object(stdClass)#5900 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "3" ["label"]=> string(17) "First article URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [8]=> object(stdClass)#6306 (32) { ["id"]=> string(1) "8" ["title"]=> string(18) "Second article URL" ["name"]=> string(18) "second-article-url" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-07-08 05:42:04" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#5899 (3) { ["data":protected]=> object(stdClass)#5902 (1) { ["relative"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#5901 (3) { ["data":protected]=> object(stdClass)#5904 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "3" ["label"]=> string(18) "Second article URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [9]=> object(stdClass)#6305 (32) { ["id"]=> string(1) "9" ["title"]=> string(17) "Third article URL" ["name"]=> string(17) "third-article-url" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-07-08 05:42:42" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#5903 (3) { ["data":protected]=> object(stdClass)#5906 (1) { ["relative"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#5905 (3) { ["data":protected]=> object(stdClass)#5908 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "3" ["label"]=> string(17) "Third article URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [4]=> object(stdClass)#6302 (32) { ["id"]=> string(1) "4" ["title"]=> string(9) "Video URL" ["name"]=> string(9) "video-url" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-19 05:54:21" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "1" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#5907 (3) { ["data":protected]=> object(stdClass)#5910 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#5909 (3) { ["data":protected]=> object(stdClass)#5912 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(9) "Video URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [6]=> object(stdClass)#6303 (32) { ["id"]=> string(1) "6" ["title"]=> string(33) "Image Caption / Video description" ["name"]=> string(31) "image-caption-video-description" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-25 16:29:55" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "2" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#5911 (3) { ["data":protected]=> object(stdClass)#5914 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#5913 (3) { ["data":protected]=> object(stdClass)#5916 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(33) "Image Caption / Video description" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [3]=> object(stdClass)#6298 (32) { ["id"]=> string(1) "3" ["title"]=> string(6) "Status" ["name"]=> string(6) "status" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-20 01:45:26" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "3" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#5915 (3) { ["data":protected]=> object(stdClass)#5921 (1) { ["options"]=> object(stdClass)#5919 (2) { ["options0"]=> object(stdClass)#5918 (2) { ["name"]=> string(8) "Inactive" ["value"]=> string(1) "0" } ["options1"]=> object(stdClass)#5920 (2) { ["name"]=> string(6) "Active" ["value"]=> string(1) "1" } } } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#5917 (3) { ["data":protected]=> object(stdClass)#5923 (10) { ["hint"]=> string(0) "" ["class"]=> string(9) "btn-group" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(5) "radio" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(6) "Status" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [5]=> object(stdClass)#6301 (32) { ["id"]=> string(1) "5" ["title"]=> string(22) " Essential information" ["name"]=> string(21) "essential-information" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-25 06:10:20" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "4" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#5922 (3) { ["data":protected]=> object(stdClass)#5925 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#5924 (3) { ["data":protected]=> object(stdClass)#5927 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(22) " Essential information" ["description"]=> string(35) "3 points that summarize the article" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [2]=> object(stdClass)#6311 (32) { ["id"]=> string(1) "2" ["title"]=> string(14) "Embedded Video" ["name"]=> string(14) "embedded-video" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-20 01:43:32" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "5" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#5926 (3) { ["data":protected]=> object(stdClass)#5929 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#5928 (3) { ["data":protected]=> object(stdClass)#5931 (10) { ["hint"]=> string(29) "Paste your embedded code here" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(14) "Embedded Video" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } } ["link"]=> string(95) "/borrow-money/banking/big-four-banks-offer-support-for-customers-impacted-by-covid-19-lockdowns" ["image"]=> string(43) "images/article-826x550/Big4-Banks-au-ne.jpg" ["image_alt"]=> string(14) "Big four banks" } }