16 January 2017
The ABA provided the BCBS with comments on two documents: Consultative document: The Regulatory treatment of accounting provisions – interim approach and transitional arrangements, and Discussion paper: Regulatory treatment of accounting provisions.Download PDF
The ABA agrees that capital and funding, tax, skills and talent, culture and regulation are key factors that determine Australia’s competitive position to attract and maintain investment in technology. However, the ABA respectfully requests to also consider how Australia should best manage data in the emerging digital economy.
The ABA supports ASIC finalising this review and releasing updated regulatory guidance as soon as possible to provide clarity and assist credit licensees comply with their responsible lending obligations.