10 May 2019
The ACCC’s draft Rules provide a good foundation for the implementation of open banking, however there are a number of areas that have not been addressed in the draft Rules or which require further guidance.
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The ABA asks APRA to consider the ARS 115 consistency with the accounting standard and consistency with current data consultation outcomes.
The ABA strongly supports the Government’s initiative to help small businesses grow by coinvesting with banks to establish this Australian Business Growth Fund. The Fund is designed to provide equity finance to qualifying businesses across a range of industries and locations.
The ABA supports APRA’s review of the capital framework but asks for further consideration of investment in regulated subsidiaries.
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