3 February 2021
The Australian Banking Association (ABA) supports the Government’s reforms to the National Consumer Credit Protection Act. So much has changed since 2009 that it is only sensible for the Government to review the legislative and regulatory framework. Ensuring the efficient flow of credit into the economy with strong consumer protections in place will assist Australia’s recovery from the pandemic.
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The ABA thanks ASIC for the opportunity to comment on its discussion paper on the dynamics between public and private markets.
The ABA welcomes APRA providing clarity on the proposed targeted changes for Higher Education Loan Program (HELP) debt obligations and the constructive approach it is taking on this consultation.
The ABA welcomes APRA’s consultative approach to the potential impacts of the proposed replacement of AT1 capital with higher amounts of CET1 and Tier 2 capital under APRA’s prudential framwork in Australia.