Independent reviewer extends Code of Banking Practice review

Sydney, 13 December 2016: The Australian Bankers’ Association has today acknowledged the one month delay of the report of the Code of Banking Practice review.

ABA Executive Director – Retail Policy Diane Tate said the independent reviewer, Mr Phil Khoury, had requested more time to adequately deal with the breadth and complexity of issues.

“The ABA recognises that the process to review the Code is extensive and requires thorough consultation and engagement,” she said.

“We acknowledge that Mr Khoury needs more time to be able to produce the best outcome – a report which clearly identifies the pathway to improve the Code.

“We look forward to receiving the report by the end of January next year with recommendations on how banks can strengthen their commitments to customers and improve standards of behaviour,” Ms Tate said.

More information, including a status report published by the independent reviewer, is available on the review website at cobpreview.crkhoury.com.au.

ENDS

Contact: Stephanie Arena 0477 470 677 or Nic Frankham 0435 963 913

@austbankers

bankers.asn.au