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Safe and responsible use of AI
15 August 2023 Private
ABA advocates for a considered and efficient approach by Government to AI. Banks have a history of using technology to improve customer service and enhance the security of banking. Our understanding of the potential uses of AI and the impact of some uses, and what may be fit for purpose, governance of the development and use of AI, is evolving.
Download PDFThe Australian Debit Card Market: Default Settings and Tokenisation
2 August 2023 Private
ABA supports the policy objective of helping merchants, including small businesses, to manage the cost of payments acceptance, while balancing merchants’ need for transparency, simplicity and cost effectiveness and considerations for consumers’ user experience.
Download PDFPayments System Modernisation (Licensing: Defining Payment Functions)
2 August 2023 Private
Security, consumer protection and the stability of the financial sector are essential components of the evolving payments ecosystem. . A licensing regime for payments providers with appropriate oversight and consumer safeguards should be implemented as a matter of priority to ensure that regulation evolves in line with industry innovation and provides adequate safeguards for consumers and payments ecosystem.
Download PDFReforms to the Payment Systems (Regulation) Act 1998
2 August 2023 Private
Australia’s payments system has evolved at a rate faster than the regulatory system that governs it. It is therefore critical for the Reserve Bank of Australia (RBA) to have clear, up to date and fit-for-purpose regulatory powers to perform its role as the primary payment systems regulator.
Download PDFTreasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Bill 2023
2 August 2023 Private
The ABA’s submission to the Senate Economics Committee addresses the proposed debt deduction creation rules.
Download PDFMinor amendments to prudential framework
2 August 2023 Private
The ABA provides APRA with some additional minor amendments for consideration.
Download PDFTreasury Laws Amendment (2023 Law Improvement Package No. 1) Bill 2023
6 July 2023 Private
The ABA submission supports the Australian Law Reform (ALRC) amendments to further underpin simplification of the financial services regulatory regime. Further, with respect to the proposed amendments to the National Consumer Credit Protection Act 2009 to transfer longstanding and accepted matters currently contained in Australian Securities and Investments Commission legislative instruments into the primary law, the ABA referenced its previous submission to Treasury regarding associated regulations.
Download PDFPoints of Presence Review
26 June 2023 Private
A more expansive Points of Presence data collection which shows a comprehensive picture of how the population banks would provide end users with a clearer understanding of contemporary banking in Australia.
Download PDFIndependent Review of the Modernising Business Registers Program
16 June 2023 Private
The ABA made a submission to the Independent Review of the Modernising Business Registers Program. The ABA highlighted the opportunities for the MBR Program for improved efficiency of bank-government reporting and engagement.
Download PDFProposed Financial Institutions Supervisory Levies for 2023-24
16 June 2023 Private
The ABA provided feedback on Proposed Financial Institutions Supervisory Levies for 2023-24. The ABA noted the proposed amounts and invited further consultation should there be further changes.
Download PDFModernising Australia’s Anti-Money Laundering and Counter-Terrorism Financing Regime
16 June 2023 Private
The ABA responds to the Attorney-General’s Department on its consultation to Modernise Australia’s Anti-Money Laundering and Counter-Terrorism Financing Regime.
Download PDFProposal to legislate and reform Chapter 75 Exemptions (December 2021)
14 June 2023 Private
The ABA responds to the Department of Home Affairs and AUSTRAC on a consultation proposing to legislate and reform section 75 of the Anti-Money Laundering and Counter-Terrorism Financing Rules 2007.
Download PDFABA submission to ACCC on Commonwealth Bank of Australia and Ors application for authorisation
31 May 2023 Private
The ABA responds to the ACCC’s consultation regarding the application to establish a voluntary industry-wide program for participating mortgage lenders to jointly procure assurance reviews of the compliance systems and standards of participating mortgage aggregators, the Aggregator Assurance Program (AAP).
Download PDFACCC Retail Deposits Inquiry
30 May 2023 Private
Australian banks continue to provide a competitive, dynamic, and innovative marketplace for deposits. Banks are cognisant of the variety of uses for deposit accounts and strive to provide products and services that meet the needs of customers.
Download PDFABA submission on APRA Interest Rate Risk in the Banking Book workshop
29 May 2023 Private
The Australian Banking Association (ABA) welcomes Australia Prudential Regulation Authority’s (APRA) ongoing and constructive engagement, and the opportunity to respond to the policy options on the revised draft Prudential Standard APS 117 Capital Adequacy: Interest Rate Risk in the Banking Book (APS 117), which were presented to industry on 18 May 2023. The ABA acknowledges the challenges in constructing an IRRBB framework that is stable yet risk sensitive and minimises the risks of unintended consequences. To assist APRA in finalising its position regarding the revised APS 117, the ABA provides the following feedback.
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