11 March 2016
The ABA welcomed the opportunity to provide feedback on the Basel Committee on Banking Supervision, Second consultative document: Standards: Revisions to the Standardised Approach for credit risk.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.