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.
Download PDFSenate 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.
Download PDFRevisions to APS 111 Capital Adequacy: Measurement of Capital
14 February 2020
The ABA supports APRA’s review of the capital framework but asks for further consideration of investment in regulated subsidiaries.
Download PDFACCC CDR consultation on how to best facilitate participation of third party service providers
7 February 2020
The ABA supports the inclusion of TPSPs within the CDR regime. TPSPs could play an important role in the efficient and cost-effective provision of services to consumers. The entry of TPSPs, with appropriate governance and consumer protections, will enable the development of a richer and more vibrant ecosystem.
Download PDFCorporate Criminal Responsibility Discussion Paper (DP 87) November 2019
7 February 2020
The ABA supports a principled approach to policy making on Commonwealth criminal responsibility. Such an approach stands to enhance confidence in the regulatory framework by providing consistent, predictable treatment of conduct across the regulatory landscape.
Download PDFFinancial Regulator Coordination and Information Sharing
24 January 2020
The ABA supports the codification of the expectation that where one regulator possesses information about an obvious and significant breach of laws administered by the other, the regulator should pass that information on. This will ensure early detection of misconduct and swifter enforcement action.
Download PDFOAIC Public Interest Determinations on International Money Transfers
24 January 2020
The applications seek new PIDs to permit ANZ - along with other authorised-deposit taking institutionswithin the meaning of the Banking Act 1959 (ADIs); and the RBA to disclose the personal information ofa beneficiary of an IMT to an overseas financial institution when processing an IMT, without breachingthe Australian Privacy Principles (APPs). The ABA strongly supports these two applications and urges the OAIC to issue new PIDs which would replace existing PIDs concerning IMTs that are due to sunset on 25 February 2020
Download PDFResponse to the Select Committee on FinTech and RegTech
24 December 2019
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.
Download PDFInterest rate risk in the banking book
16 December 2019
The ABA supports the alignment of APS 117 with the Basel Committee on Banking Supervision interest rate risk in the banking book issued April 2016 where appropriate.
Download PDFDraft Consumer Data Right Privacy Safeguard Guidelines Consultation
27 November 2019
The ABA recommends that the PS GL undergo a second consultation twelve months after the launch of the CDR regime. The ABA recommends that the OAIC institutes a process for annual review (or as CDR documentation is revised) of the PS GL in order to ensure that all cross-references remain up-to-date, complete, relevant and therefore effective. It would benefit readers of the PS GL if the OAIC provided multiple examples where a Privacy Safeguard requires DHs and ADRs to consider what is ‘reasonably needed’ or ‘proportionate’.
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