APRA Discussion Paper: Revisions to the related entities framework for ADIs
4 October 2018
The ABA is cognisant of the size and complexity of the task APRA has in finalising and calibrating a number of significant reforms to the Australian prudential framework. The ABA looks forward to continued dialogue to ensure an appropriate implementation of the capital framework for Australian ADIs.
Download PDFRoyal Commission Round 5 – Superannuation
21 September 2018
In a market where many customers are disengaged and use a default fund, visiting a bank branch may be one of the few occasions where they can have their attention drawn to their superannuation.
Download PDFConsumer Data Right Exposure Draft Response
7 September 2018
ABA members support the introduction of a consumer data right that will encourage innovation and enable customers to benefit from data sharing while ensuring their privacy is safeguarded. Appendix available here.
Download PDFProduct Intervention and Design and Distribution Obligations (Treasury)
15 August 2018
The banking industry supports the intent of the Design and Distribution Obligation (DDO) to assist “consumers select appropriate financial products by requiring issuers and distributors to appropriately market and distribute financial products,” but highlights some concerns around the current draft legislation.
Download PDFRoyal Commission Round 4 – Rural and Remote Communities
3 August 2018
Many of the poor outcomes experienced by consumers in the Round 4 case studies are likely to be improved with the implementation of industry reforms currently in train.
Download PDFABA Response to Australian Financial Complaints Authority rules consultation
6 July 2018
The ABA appreciates the opportunity to comment on the proposed AFCA rules and expresses our view that its operation should be efficient and effective and that decision processes should be transparent and clear as this is in the best interest of customers.
Download PDFIntroducing an economy-wide cash payment limit
5 July 2018
The ABA supports the Government’s announcement of an economy-wide cash payment limit of $10,000 for payments to businesses for goods and services, to apply from 1 July 2019. However we raise four points around the operation of the $10,000 limit to ensure it meets the Government’s intentions and does not lead to any unintended consequences or unnecessary red tape.
Download PDFRevisions to the minimum capital requirements for market risk
20 June 2018
This consultation is a step forward in improving the risk sensitivity, consistency and operational process of some aspects of the market risk framework. However, certain aspects of the framework remain excessively onerous, unduly complex and unrepresentative of the actual risk intended to be mitigated in smaller markets such as Australia.
Download PDFRevisions to the capital framework for ADIs
15 June 2018
The ABA welcomes the APRA discussion paper which includes proposed revisions to the capital framework, as well as other changes to better align the framework to risks, including in relation to housing lending.
Download PDFRoyal Commission Round 3 – Small Business Lending
8 June 2018
Self-regulation of the banking industry through the Banking Code of Practice is adequate to address any residual concerns raised in the context of the Round 3 Hearings about the coverage of obligations imposed on the banks.
Download PDF