14 November 2016
The ABA lodged a submission with the Attorney-General’s Department on the Industry Consultation Draft: Project Plan “Implementation of the recommendations from the statutory review of the anti-money laundering and counter-terrorism financing regime”. The ABA remains fully supportive of the implementation of all 84 recommendations from the statutory review of the AML/CTF financing regime.Download PDF
The ABA welcomes further clarity on the capital treatment for guarantees under the Scheme. A clear understanding of the capital treatment is critical for an ADI’s mortgage product development and consequential approval under the scheme.
The ABA welcomes any assistance to help first homebuyers to own their own home and supports the Government’s commitment to deliver the First Home Loan Deposit Scheme. Further, the ABA welcomes APRA’s letter to industry clarifying the capital treatment of the guarantee.