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APRA consultation on treatment of loans impacted by COVID-19

21 August 2020

The ABA seeks clarification, but welcomes APRA’s approach by requiring a credit assessment to be ‘appropriate'. The ABA welcomes greater data transparency by regulators, but has a list of recommendations for ARS 923.3.

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Banking Amendment (Deposits) Bill 2020

10 July 2020

The ABA believes that deposits are currently protected and could not be bailed in during the resolution process of any ADI.

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ABA Response to Senate inquiry into Australian Government’s response to COVID-19

2 June 2020

The response incorporates initiatives on loan deferrals and lending, banking accessibility, and electronic conveyancing and electronic mortgages. These measures were designed to support consumers and businesses through this difficult time and intended to mitigate the impacts of COVID-19 on bank customers.

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Lessons learned from the Australian bushfire season 2019-20

22 May 2020

The ABA has set up a natural disasters work program that reports to our 16 Council members in order to clarify, strengthen and streamline the banking industry’s response to natural disasters to ensure that they have the right tools for the job at the right time. By the beginning of March 2020, the major banks had provided bushfire assistance grants totalling $7.6 million to more than 4,000 customers across Australia. The banks had also raised more than $42 million in donations to help devastated communities and assisted more than 3,500 customers with financial relief packages of the types described below.

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Inquiry into Future Directions for the Consumer Data Right

21 May 2020

The ABA supports the ongoing development and expansion of the Consumer Data Right (CDR). As the first sector to launch with Open Banking, the banking industry has contributed significantly to operationalising the CDR vision through expertise within the sector as well as providing the Open Banking systems through which the first consumer data will flow in the CDR.

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AusPayNet application for revocation of authorisation A91497 and A91498 and substitution of AA1000495

6 May 2020

The ABA supports the AusPayNet application for re-authorisation. The ABA considers the Issuers and Acquirers Community (IAC) framework provides opportunities for coordination, self-regulation and policy setting which delivers important public benefits.

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APG 220 Credit Risk Management Submission

19 March 2020

The ABA is supportive of modernising prudential guidance in line with contemporary credit risk management practices. However, it is important to ensure that any new guidance sits comfortably within a predictable and transparent regulatory framework for ADIs

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Model Participation Rules – ARNECC Consultation Draft Version 6

2 March 2020

The proposed amendments to the MPR are significant and the ABA is strongly opposed to Draft Version 6 of the MPR in their current form. The ABA is not aware of any instance of identity fraud in the electronic e-conveyancing system that would warrant such significant and costly changes.

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ARS 115 Standardised measurement approach to operational risk

24 February 2020

The ABA asks APRA to consider the ARS 115 consistency with the accounting standard and consistency with current data consultation outcomes.

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Senate Economics Committee Inquiry into the Australian Business Growth Fund Bill 2019 [Provisions]

17 February 2020

The ABA strongly supports the Government’s initiative to help small businesses grow by coinvesting with banks to establish this Australian Business Growth Fund. The Fund is designed to provide equity finance to qualifying businesses across a range of industries and locations.

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