"Very uncertain times, and at these times a bank should look after its balance sheet. And the numbers are truly staggeringCalm before the storm? "The extra capital is intended to boost the bank's "common equity tier one", or CET, ratio to 11.2 per cent.Essentially, CET is the money that regulators require banks to hold in reserve invested in safe assets that they can use to cover any losses from bad debts to ensure the bank can pay out depositors and bond holders and will not go bankrupt in the event of large-scale losses.The Reserve Bank is trying to stop the financial system melting down and telling us to brace for impact amid fallout from coronavirus, writes Gareth Hutchens.The bank said it was raising much more capital than regulators currently required because it did not yet know how big the losses related to COVID-19 would be. The change in the US Fed's inflation policy late last week may create unlikely winners on the S&P/ASX 200 Index (Index:^AXJO). How long will it take to get my results back?Millions of Aussies have been told to isolate. Employer body welcomes new JobKeeper rules, while unions reluctantly accept in light of the COVID-19 recession. Afterpay Ltd (ASX:APT) and QBE Insurance Group Ltd (ASX:QBE) shares are making a big splash on the ASX 200 on Tuesday... But that hasn't improved their image much. As COVID-19 struck, the big banks were quick to provide flexibility for customers in trouble. The Prospa Group Ltd (ASX: PGL) share price and profit results show that the battle between fintech and ASX banks isn't one sided. The NAB share price is down nearly 23% year to date, underperforming the broader benchmark index which has recorded a 10% drop. Cleanaway Waste Management Ltd (ASX:CWY) and National Australia Bank Ltd (ASX:NAB) shares are making a splash on the ASX 200 on Wednesday... A key element of value investing is understanding how that value is calculated. NAB is also slashing its dividend to shareholders by 64pc to 30 cents per share to strengthen its financial position The bank reported a 51 per cent slump in half-year profit to $1.3 billion. "[An] $807 million credit overlay for COVID-19 appears slightly light," they wrote in a note on the announcement. The NAB hedonic forecast for units across the capital cities show larger price drops are expected, with a 10 per cent drop in Melbourne’s unit prices this year, followed by a 4 per cent drop in 2021. When he went to say goodbye, it was a 'total ghost town'Epidemiologist calls for mass testing of Melburnians with no coronavirus symptomsLive: Cormann distances Government from Abbott's coronavirus commentsThe Catholic school system that takes from the poor to give to the richVictoria records 90 new coronavirus cases and six deathsEdward saw a photo of a driver's licence in a data breach story. "These are unprecedented times," Mr McEwan said during a conference call with journalists. With NAB (ASX: NAB) cutting its dividend by some 16% back in May, Morgan Stanley believes it is likely that the NAB dividend will remain flat, with a capital build overtime also looking to be likely. NAB - Price chart analysis NAB shares pulled back in the last three sessions but bounced back at around 17.22 support. "In its annual results, the bank presents a fairly bleak forecast from its economists about the effect of COVID-19.NAB expects economic growth, as measured by GDP, to slump 8.4 per cent by September 2020 compared with December 2019, and not to recover to pre-COVID-19 levels of activity until early 2022.The bank's forecasters also expect unemployment to peak at 11.7 per cent by the middle of this year, above Treasury's forecast of 10 per cent, and to only partially recover to 7.3 per cent by December 2021.An increase in unemployment will lead to more defaults on credit cards, personal loans and mortgages, while a rising number of company failures will cause losses on NAB's significant small business lending portfolio, which is the biggest of the major banks.In a sign of the extreme financial stress many households are already under just a month into the most restrictive phase of the shutdowns, NAB said it had already approved more than 70,000 home loan deferrals on mortgages, worth around $26.5 billion.It has also approved more than 34,000 business loan deferrals on balances worth a total of $17.4 billion, while offering reduced credit card minimum repayments, fees and interest rates to 1.7 million customers. All the latest National Bank of Australia Limited (ASX: NAB) news, NAB share price movements, expert commentary and investing advice from The Motley Fool. Barossa locals slam 'abstract' $50m luxury hotel proposal, taking council to courtPPE was locked in office over long weekend during Tasmanian COVID outbreak, nurses say So if you’re looking to get your finances on track and you’re in or near retirement – we’ve got you covered!
"This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced.Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume.COVID-19 stimulus may not provide the hoped for boost as JobKeeper tensions mountWe have data on which workers have been hit hardest by coronavirus.