2003

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2003

ASIC Report Shows Banks Dispute Resolution Processes Working Well

Sydney, 22 December, 2003: The Australian Bankers’ Association welcomes the report from the Australian Securities and Investments Commission (ASIC) on financial institutions’ ‘Compliance with the Payments System Codes of Practice and the EFT Code of Conduct’.

Productivity Commissions Draft Report on First Home Ownership

Sydney, 18 December, 2003: The Australian Bankers’ Association (ABA) congratulates the Productivity Commission on its draft report into First Home Ownership. The ABA welcomes the finding that: “Lower interest rates, together with innovations in a more competitive housing finance sector, have reduced the costs of purchasing a home and made it easier to borrow.”

Bank Branches Up 1% - Three-Year Trend in APRA Survey

Sydney, 17 December, 2003: The Australian Prudential Regulation Authority’s (APRA) Points of Presence 2003 survey shows that there has been an increase of 69 bank branches, a rise of 1%, over the last three years. Some banks are opening new branches as new business opportunities present – 15 new branches were opened last year.

Revised Queensland Farm Finance Strategy

Brisbane, 17 December, 2003: The Australian Bankers’ Association (ABA) and the Queensland Farmers’ Federation (QFF) have today released the revised Queensland Farm Finance Strategy 2004

Retailers Claim False

Sydney, 12 December, 2003: Banks, Building Societies and Credit Unions described the retailers’ claim that savings from credit card reforms would be eliminated by a zero EFTPOS interchange fee as false. There is no evidence to support this claim, and we call on retailers to work constructively with financial institutions to ensure a smooth implementation period to benefit consumers.

No Evidence That Banks as a Whole Benefit From Changes in the Official Interest Rate Cycle

Sydney, 11 December, 2003: The Australian Bankers’ Association says it has seen no evidence that banks as a whole benefit from changes in Reserve Bank official rates over a credit cycle.

Community to Benefit From ACCC EFTPOS Decision

Sydney, 11 December, 2003: Banks, Building Societies and Credit Unions welcome the Australian Competition and Consumer Commission’s (ACCC) decision to approve their proposal to reduce EFTPOS interchange fees to zero. Consumers, retailers and the wider community will benefit from the ACCC decision.

Banking Industry Makes Long-Term Commitment to Improving Financial Literacy

Sydney, 9 December, 2003: The banking industry today announced it has committed to a long-term strategic priority of helping improve Australians’ financial literacy.

Need for Water Titles Register in Victoria to Ensure Access to Finance

Sydney, 1 December, 2003: The Australian Bankers’ Association (ABA) has called for a secure water titles register to be set up in Victoria so that farmers can use their water licence to obtain access to finance.

Greater Competition in the Small Business Banking Market in the Last Two Years- New KMPG Report

Sydney, 25 November, 2003: The Australian Bankers’ Association (ABA) has today released an independent report by KPMG, concluding there is greater competition in the small business banking market compared to two years ago.

ABA Calls for Evidence to Back Claims That ACT Legislation Has Been Successful

Sydney, 25 November, 2003: The Australian Bankers’ Association (ABA) says claims that ACT credit legislation is successful should be supported with evidence as credit card default rates are at record lows.

Australian Bankers Association Supports Governments Focus on Farm Finances

Sydney, 19 November 19, 2003: The Australian Bankers’ Association (ABA) said farm finances are in reasonably good shape, with the banks reporting a low level of poorly performing loans, despite the continuing impact of the drought.

Code of Banking Practice - Appointment of Chairman of Code Compliance Monitoring Committee

Sydney, 17 November, 2003: Mr Tony Blunn, AO, is to be appointed Chairman of the independent Code Compliance Monitoring Committee (CCMC) for monitoring banks’ compliance with the Code of Banking Practice.

New Report on How Australian Banks Compare to Overseas Banks

Sydney, 11 November, 2003: The Australian Bankers’ Association (ABA) has released a report which outlines important facts about bank profits.

Banking Industry Proposes Roundtable to Address Access to Services in Remote Communities

Sydney, 10 November, 2003: The Australian Bankers’ Association (ABA) has told a Parliamentary Inquiry that there is a need for an Industry Roundtable, in partnership with Reconciliation Australia, to examine issues and work toward solutions on access to banking and financial services in remote communities across Australia.

Start of Reserve Bank Regulations on Credit Card Interchange

Sydney, 31 October, 2003: The Australian Bankers’ Association (ABA) welcomes the effective end of the credit card reform process with today’s commencement of the new interchange pricing regulation.

Electronic Banking Seminars

Melbourne, 17 October, 2003: The Australian Bankers’ Association (ABA) and WIRE Women’s Information are working together to provide a series of free electronic banking seminars for Victorian women.

13% Fall in Banking Disputes Lodged with Ombudsman

Sydney, 13 October, 2003: The Australian Bankers’ Association is pleased there has been a 13.3% fall in the number of cases compared to last year dealt with by the Banking Ombudsman.

Bank Fee Figures in Context

Sydney, 2 October, 2003: The Australian Bankers’ Association says the Reserve Bank of Australia’s figures released today confirm the user pays trend in bank fees.

Superannuation Setback – Australian Bankers Association Says Status Quo Bad Policy

Sydney, 11 September, 2003: The Australian Bankers’ Association (ABA) says it is disappointed that the findings of the Senate Select Committee’s Report into Portability supports the status quo.

Agreement Signals Savings Gap Could Start to Close

Sydney, 8 September, 2003: The Australian Bankers’ Association (ABA) says the landmark agreement between the Government and the Democrats announced yesterday by the Minister for Revenue and Assistant Treasurer, Senator Helen Coonan, is positive progress in the superannuation policy area.

Australian Bankers Association Says National Reform Goals are Needed to Boost Retirement Income and Savings

Sydney, 5 September, 2003: The Australian Bankers’ Association (ABA) is urging support of amending regulations to remove the impediments to superannuation portability, so that all customers are given the choice to consolidate their multiple accounts, and save on fees.

Citibank MD Les Matheson Elected as Australian Bankers Associations New Deputy Chairman

Sydney, 29 August, 2003: The Council of the Australian Bankers’ Association (ABA) has elected Mr Les Matheson, Citibank Consumer Bank Managing Director, as the new Deputy ABA Chairman.

Australian Bankers Association Welcomes COAG Agreement on Water Reform

Sydney, 29 August, 2003: The Australian Bankers’ Association (ABA) has welcomed the national water initiative which has been agreed at the Council of Australian Governments meeting today in Canberra.

Beware Fraud Scams – Warning from Australian Bankers Association

Sydney, 28 August, 2003: The Australian Bankers’ Association (ABA) is warning the public of email scams targeting consumers. The first example involves scam emails purporting to be from banks which link to ‘ghost’ websites. The second involves companies that claim to sell goods and services direct to the public.

Australian Bankers Association Says Freedom of Choice cant Wait

Sydney, 13 August, 2003: Australian Bankers’ Association (ABA) hopes that customers will soon be able to manage their superannuation account balances in the same way that they now take for granted the choices they can make in banking products and services.

Access to Finance is a Critical Water Reform Issue Which Must be Addressed at COAG Meeting

Sydney, 11 August, 2003: The Australian Bankers’ Association (ABA) was pleased to see that the participants at the Agricultural Finance Forum last week agreed that water reform was the number one issue impacting on farmers’ ability to access finance in the future.

ACCC Draft Determination on EFTPOS Reform

Sydney, 8 August, 2003: The Australian Competition and Consumer Commission (ACCC) has today proposed to deny the application to reduce EFTPOS interchange fees to zero. The Australian Bankers’ Association (ABA) described the draft determination on EFTPOS reform by the ACCC as surprising.

Banking And Finance Sector To Participate In Trusted Information Sharing Network

Sydney, 7 August, 2003: The banking and finance sector is to play an important role in the Federal Government’s Trusted Information Sharing Network (TISN) for Critical Infrastructure Protection.

Revised Code of Banking Practice

Sydney, 1 August, 2003: The Australian Bankers’ Association has today released the revised Code of Banking Practice for personal and small business customers of banks

NSW Small Business Minister Wrong on Small Business Banking

Sydney, July 31, 2003: The Australian Bankers’ Association (ABA) says today’s media release from the New South Wales Minister for Small Business, David Campbell, shows that he is not well informed about the small business banking market.

Australian Bankers Association Taskforce Tackles Fraud

Singapore, 23 July, 2003: The Australian Fraud Taskforce, convened by the Australian Bankers’ Association is taking a three-pronged approach to improve fraud prevention in the community.

Evidence Suggests Regional Customers Will Benefit from Proposal to Change ATM Pricing Regime

Sydney, 22 July, 2003: The Australian Bankers’ Association said recent claims[1] that regional Australia will be disadvantaged by the proposal to eliminate the interchange fee on ATM transactions are contradicted by the evidence.

Australian Bankers Association Says RBA Report Shows a High Level of Consumer Confidence in Electronic Banking

Sydney, 18 July, 2003: The Australian Bankers’ Association (ABA) welcomes the article about the trends in the Australian Retail Payments system in the July edition of the Reserve Bank of Australia (RBA) Bulletin.

Banking Industry Welcomes the Appointments to the Australian Prudential Regulation Authority

Sydney, 27 June, 2003: The Australian Bankers’ Association welcomes Treasurer Peter Costello’s announcement of appointments to the Australian Prudential Regulation Authority (APRA) – Chairman, Dr John Laker, Deputy Chairman, Ross Jones, and Member, Mr Stephen Somogyi.

John McFarlane Elected as Australian Bankers Associations New Chairman

Sydney, 17 June, 2003: The Council of the Australian Bankers’ Association (ABA) has elected Mr John McFarlane, Chief Executive Officer of ANZ, as the new ABA Chairman.

Critical Infrastructure Protection Cybercrime Submission Lodged

Sydney, 16 June, 2003: The Australian Bankers’ Association (ABA) encourages the Federal Government to provide further support to banks and other industry groups in order to establish the planned forum dubbed the ‘Trusted Information Sharing Network.’

ABA Welcomes Draft Superannuation Safety Legislation And The Portability Regulations

Sydney, 5 June, 2003: The Australian Bankers’ Association (ABA) hopes that customers will soon be able to manage their superannuation account balances in the same way that they now take for granted the choices they can make in banking products and services.

Banks to Continue Support for Farmers Throughout Drought

Sydney, 3 June, 2003: The Australian Bankers’ Association (ABA) said banks will continue to support Australia’s farmers through this difficult drought.

ABA Welcomes the Kick Start to Superannuation Reform

Sydney, 25 May, 2003: The Australian Bankers’ Association (ABA) welcomes the Federal Government’s reinvigoration of superannuation reform and the commitment to give Australian workers the ability to consolidate superannuation accounts and decide who manages their own money.

Armed Bank Robberies – Reward Offered

Sydney, 16 Friday, May 2003: Strike Force Castles, a joint State Crime Command and Metropolitan Robbery Unit investigation, is seeking public information concerning a spate of armed robberies committed in the Sydney metropolitan area by offenders wielding sledge hammers and jemmy bars.

Budget 2003 - International Tax Reform

Sydney, 14 May, 2003: The Australian Bankers’ Association (ABA) welcomes the progress achieved on the Federal Government’s reforms for improving the international competitiveness of Australia’s tax system.

EFTPOS And Credit Card Reform – Consumers will Benefit When Retailers Pass on the Savings

Sydney, 17 April 2003: The Australian Bankers’ Associations (ABA) says that claims prices of goods and services will increase due to EFTPOS reform are spurious.

Joint Media Release, Growth in Bank Business and Interest Margin

Sydney, April 17, 2003: The Australian Bankers’ Association (ABA) has today released an independent report showing that the growth in bank fee income was outstripped by the growth in banking business in 2002.

Australian Bankers Association Welcomes the release of the Dawson Review

Sydney, 16 April 2003: The Australian Bankers’ Association welcomes the release of the report into the competition provisions of the Trade Practices Act 1974 (TPA) and their administration.

Banks to Help Drought Affected Communities by Distributing Information Kits Prepared by NSW Government

Sydney, 11 April, 2003: Banks will help distribute an information kit on different types of drought assistance, prepared by the NSW Government, to drought affected families and businesses.

ASIC Report Shows Banks High Level of Compliance With Code of Banking Practice and Eft Code of Conduct

Sydney, 31 March, 2003: The Australian Bankers’ Association welcomes the report from the Australian Securities and Investments Commission (ASIC) on financial institutions’ ‘Compliance with the Payments System Codes of Practice and the Electronic Funds Transfer (EFT) Code of Conduct, April 2001 to March 2002.’

Industry Action Plan on Fraud Prevention

Sydney, 14 March, 2003: The Fraud Taskforce, convened by the Australian Bankers’ Association, will today begin three major projects aiming to improve fraud prevention for the community.

Proposal to Reduce ATM Interchange Fees to Zero

Sydney, 3 March, 2003: A community consultation process has today been launched on a proposal to reduce ATM interchange fees to zero and replace the current system with a direct charging model.

ABA Welcomes Moves Towards New Tax Arrangement Between Australia And New Zealand

Sydney, 25 February, 2003: The Australian Bankers’ Association (ABA) welcomed the Federal Government’s signal that Australia and New Zealand will extend their tax imputation regimes to include companies resident in the other country.

ACCC Approval Sought to Reduce Eftpos Interchange Fees to Zero

Sydney, 21 February, 2003: Banks, building societies and credit unions have today lodged with the Australian Competition and Consumer Commission (ACCC) a proposal to reduce interchange fees of EFTPOS transactions in Australia to zero.

Claims that Using Eftpos will be More Expensive are False

Sydney, 18 February, 2003: The claim in today’s ‘Australian Financial Review’ newspaper that “Consumers will be forced to pay higher fees to use EFTPOS terminals in retail outlets” is wrong.

Strength Of Australias Banks Have Helped Improve Australias Credit Rating

Sydney, 17 February, 2003: The Australian Bankers’ Association says that Australian businesses borrowing money from overseas will on average face lower interest charges because Australia’s credit rating has improved to AAA from AA+.

Total Face-To-Face Banking Services Record Increase: Greatest Growth in Rural Areas

Sydney, 17 February, 2003: The Australian Prudential Regulation Authority’s (APRA) Points of Presence 2002 survey shows two important trends on access to banking services for bank customers.

Bushfires: Banks Emergency Relief Packages

Sydney, 24 January, 2003: The Australian Bankers’ Association said bank staff remain keen to assist wherever possible those adversely affected by the bushfires in the Australian Capital Territory, Victoria, New South Wales.

Bushfires: Banks Offer Disaster Relief Packages and Urge Customers Adversely Affected To Make Contact

Sydney, 20 January, 2003: The Australian Bankers’ Association (ABA) has urged customers to contact their bank as soon as possible if they are facing financial difficulties as a result of the devastating fires in the Australian Capital Territory, New South Wales and Victoria.