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APRA Consultations on margining and risk mitigation for non-centrally cleared derivatives

28 August 2019

The ABA supports APRA’s amendments to Prudential Standard CPS 226 Margining and risk mitigation for non-centrally cleared derivatives (CPS 226)

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Economy-wide Cash Payment Limit

12 August 2019

The Australian Banking Association (ABA) supports the Government’s introduction of an economy-wide cash payment limit to businesses for goods and services. Having a taxation system that is robust and one that meets community expectations is vital and we recognise the importance of this initiative to the integrity of our tax system.

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Consultation Paper 313 – Product Intervention Power and draft Regulatory Guide

7 August 2019

We acknowledge The Australian Securities and Investments Commission’s (ASIC) intention to provide ‘high level’ guidance, and to rely on the ordinary meaning of ‘significant detriment’. However, for the efficient implementation of this measure, maximum clarity around the meaning of this term is desirable.

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Open Banking designation instrument consultation (2nd round)

11 July 2019

Banking will be the first sector to apply the Consumer Data Right and the ABA supports the participation of more sectors over time to achieve an economy-wide open data regime.

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Interoperability between ELNOs (eConveyancing)

8 July 2019

The ABA supports a national approach to eConveyancing and this includes a national regime for interoperability.

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APRA consultation on APS 220 Credit Risk Management

5 July 2019

The ABA welcomes the timely review of APS 220 to incorporate the new developments in credit risk management practices, including the new accounting standards and the Basel Committee supervisory guidance on sound credit risk practices. The ABA agrees that effective management of credit risk is a critical component of a comprehensive approach to risk management... Read more »

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Comments on the Working Draft of the Consumer Data Standards

21 June 2019

ABA’s submission to Data 61 on Consumer Data Rights Standards 0.9.3 highlighted the need for a number of important functional and security requirements to be embedded in the regime.

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Consultation on revisions to prudential practice guide APG 223 residential mortgage lending

21 June 2019

The ABA welcomes APRA’s revision of the current buffer and floor limits set in December 2014.

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Consultation on responsible lending (RG209)

20 May 2019

The ABA is concerned that a move away from a principles based approach will negatively affect competition.

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Australian Law Reform Commission Corporate Crime Inquiry

17 May 2019

It is important that any consideration of the liability of individuals for corporate misconduct take account of the various avenues pursuant to which individuals might be personally liable for corporate misconduct under the law as it stands.

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