6 July 2021
The ABA and members are supportive of APRA’s move to data collection based on a concept-dimension data model. ABA members broadly support the approach APRA has outlined in their letter of June 8. The collective view of ABA members is that a successful implementation will result from sufficient time being given to develop a full taxonomy, and that this is finalised well in advance of the first submission date so banks can build the infrastructure to support the data model. ABA members have concerns with the overlap of two new reporting requirements (the tactical solution and the incremental collections), the granular level of detail required for the strategic solution (especially for the lower risk portfolios) and the timing by which each reporting needs to be provided.
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Banks continue to strongly support measures to allow companies and registered schemes to fulfil their legal obligations to hold meetings and execute documents using electronic means under the Corporations Act 2001 (Cth). The ABA makes four key recommendations, including providing optionality for companies to host AGMs in either hybrid or wholly online formats; amendments to… Read more »
The ABA continues to support Australia’s credit reporting framework, which has benefits for both consumers seeking to build creditworthiness and providers of credit information in supporting a more comprehensive assessment of credit applications. The ABA makes 16 recommendations to the Review to improve the effectiveness of the Framework and support its expansion to all Buy… Read more »
The Australian Banking Association welcomes the opportunity to provide feedback on the Help to Buy Scheme program directions. Home ownership remains an important financial and lifestyle goal for many Australians and policies that facilitate affordable and sustainable home ownership should remain at the centre of Australia’s housing policy agenda. The ABA notes the purpose of… Read more »