6 May 2020
COVID-19 Timeline
What’s happened in the Australian banking sector during the coronavirus pandemic.

February 14: coronavirus assistance offered

February 14: ABA COVID-19 assistance hub created

March 11: Government announces first stimulus package of $17.6B

March 20: small business relief package announced featuring 6 month deferrals

March 20: mortgage relief announced – 6 month deferrals available for homeowners

March 22: Government announces second stimulus package of $66B

March 25: COVID-19 FAQs published

March 30: business relief extended to landlords and renters

April 3: contactless payments to increase from $100 to $200

April 5: banks support JobKeeper – credit available to bridge gap till payments begin in May

April 6: credit scores secured – COVID-19 deferrals will not affect credit ratings

April 8: SME loan guarantee begin – 50% govt-guaranteed loans, no repayments for 6 months

April 24: dedicated JobKeeper business hotlines open

April 26: Bank CEOs support COVIDSafe app – will download app and encourage staff to do same

April 29: voluntary debit cards for passbook holders announced

April 29: COVID-19 anti-scam hub updated, fact sheets in 12 translations

May 8: 100,000 extra COVID-19 loan deferrals in a week – brings total to 643,000

May 16: 1 in 14 mortgages have now been deferred – 429,000 in total

Mar 11: New expanded and extended SME loan scheme good for small business 80/20, 24 month deferrals, $250M turnover
Latest news
Media Releases
Support available for customers affected by Tropical Cyclone Seroja
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15 April 2021
Australian banks are ready to help customers in Western Australia who are rebuilding after the destruction inflicted by Tropical Cyclone Seroja. Communities in WA’s mid-west were devastated by the cyclone last week, when it crossed the coast near the town of Kalbarri. Geraldton, Northampton, Binnu, Chapman Valley, Mingenew and a number of other towns were… Read more »
Media Releases
Banks unite to help customers experiencing financial abuse
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4 April 2021
Australian banks are launching updated guidelines on financial abuse as part of their continued focus on responding to family violence and elder abuse.
Media Releases
Banks call for consistent laws to prevent elder abuse
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31 March 2021
Australian banks are urging state and territory governments to adopt consistent laws on powers of attorney to prevent elder financial abuse.