27 September 2019
The new Banking Code of Practice, came into operation on 1 July 2019.
On the 22nd May, the ABA applied for authorisation from the ACCC to further amend the Code by adopting the recommendations from the Royal Commission. These recommendations relate to default fees on farm properties during natural disasters, prevention of informal overdrafts on basic accounts and overdrawn fees.
We welcome the ACCC’s proposed authorisation for these changes. We note the ACCC has raised three further conditions which the ABA will consider in more detail following discussions with members.
ENDS
Contact: Nathalie Samia 0475 741 007
Latest news
The ABA welcomes today’s consultation paper from APRA on proposed changes to bank credit risk capital settings, which have the potential to support more lending and lift productivity. ABA CEO Simon Birmingham said the consultation was a welcome step towards a more efficient capital framework while still retaining the underlying strength and stability of Australia’s… Read more »
E&OETV InterviewSky News Business Weekend with Ross Greenwood21 June 2026 Topics: Economic contribution of banks Ross Greenwood: Well Australia’s banks, love them or loathe them, they are a necessity. We need them strong to provide the security for lenders and depositors. We need them well-regulated to keep them from again putting profit ahead of their… Read more »
ABA CEO Simon Birmingham delivered the following introductory remarks ahead of a panel on the value of banking to the Australian economy, launching new Mandala research, at the 2026 ABA Banking Conference. Our piece of work that has been released today, Mandala providing the intellectual backdrop and analysis to support us in this, the essential… Read more »