14 April 2022
The Australian Banking Association welcomes the opportunity to respond to the Australian Prudential Regulation Authority’s discussion paper, Post-implementation Review of the Basel III Liquidity Ratios in Australia, which focuses on the Liquidity Coverage Ratio (LCR) and the Net Stable Funding Ratio (NSFR).
The LCR and NSFR were and remain important elements of the Basel III Liquidity reforms. Overall, these liquidity measures have achieved their objectives of promoting short-term and long-term resilience of banks’ liquidity and funding profiles and are supported by the banking industry.
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The Committee should recommend a policy and regulatory framework that manages risk and maximises opportunity, giving businesses the confidence to invest, innovate and deploy AI at scale for the benefit of customers, while preserving Australia’s capacity to use AI to protect and advance the national interest.
The Australian Banking Association (the ABA) welcomes the opportunity to comment on the Consultation Paper that will inform the direction and development of the Second Action Plan under Australia’s National Plan to End Violence against Women and Children 2022-2032 (the National Plan).
The ABA continues to support the intent of the CSLR as a last-resort scheme that compensates genuine victims where they have suffered actual financial loss as a result of financial misconduct that they have otherwise been unable to recover.