The Australian Banking Association (ABA) is the information source for the news media on the Australian banking industry, providing information, analysis and context on industry issues.
The ABA plays an active role in the public dialogue on banking and financial services, providing commentary on broader industry issues and facilitating access to other sources of information.
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COVID-19 Banking Timeline
see what’s happened in the Australian banking sector
“This is about engaging with the entire banking ecosystem in order to ensure the accessibility of the sector’s services are best serving our diverse community now, and into the future.”
The Treasurer has indicated that the federal government is closely monitoring the situation.
This International Women’s Day, it is so important to acknowledge the change that has occurred, the women and organisations who are forging this change, and also ensure we continue strongly on this positive path
As the RBA seeks to address the inflation challenge, overall bank data indicates Australian mortgage holders remain well-placed to navigate this difficult period. Household savings are high, and unemployment remains at close to record lows. Feedback from banks is that there have been no increases in hardship applications so far.
“The hardship teams are dedicated groups within banks who work closely with families who have experienced floods and other difficult situations. They have a range of very practical measures to support people to get through these experiences.”
“Vigilance is required at all times of the year as scammers grow increasingly persistent and sophisticated in their tactics”
“Banks hardship teams have experience working with those impacted by floods and can assist with a range of practical measures.”
“At this time of the year, with Christmas upon us, we’re encouraging people to be extra vigilant.”
“Government and industry now have the opportunity to genuinely work together to drive Australia’s economic shift to a low carbon future”
“Since the Banking Code was first introduced in 1993, the process to independently review the Code has continued to deliver improvements.”
The CVA released today will inform future industry efforts in using scenario analysis as a tool for understanding climate change related financial risks.
The number of micro businesses grew 10% to 1.55 million in the year to June 2022. During the same period, the number of small businesses grew 3% to 955,861 after an extraordinary period of growth during the 2021 financial year, jumping 15% to 931,791.
“Agriculture in Australia has a proud record of overcoming extreme adversity, most recently meeting the challenge of major flood events head on. Banks are standing by to support customers affected and the message is to reach out to your bank if you need their support.”
“One of the most important steps customers can take to prevent scams today is to use PayID”
The Australian Banking Association (ABA) is encouraging farmers and small businesses in regional areas to remain vigilant for potential scams following a significant rise in 2022.
The Australian Banking Association (ABA) and the Australian Financial Markets Association (AFMA) have commenced exploring ways to collaborate in the interest of our respective members.
“the Government has laid the foundations to put Australia on a solid footing, whilst continuing support for important initiatives.”
“We think this is beneficial for lifting industry standards even higher.”
“I’m confident our respective sectors will play our role in navigating our way through the current challenges and the extensive transformation underway”
“The message from banks is clear: don’t tough it out on your own, call your bank as soon as you are able to, they are ready to help.”