2005

Home

Media Centre

2005

Search

2005

NSW Credit Card Proposals Signal more Red Tape for Consumers and Ignore the Facts

Sydney, 19 December, 2005: NSW Credit Card Proposals Signal more Red Tape for Consumers and Ignore the Facts

ASIC report: Levels of Compliance with EFT Code Remain High

Sydney, 16 December, 2005: The Australian Bankers’ Association (ABA) welcomes the report from the Australian Securities and Investments Commission (ASIC) on financial institutions’ ‘Compliance with the Electronic Funds Transfer (EFT) Code of Conduct for the period April 2003 – March 2004’.

ABA Welcomes Exposure Draft Anti Money Laundering and Counter-Terrorist Financing Legislation

Sydney, 16 December, 2005: The Australian Bankers’ Association (ABA) welcomes the exposure draft Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) exposure draft legislation.

Responsible Lending - Bank Code and Debt Initiatives Already Implemented By ABA Member Banks

Sydney, 22 November, 2005: The Australian Bankers’ Association (ABA) said two self regulatory initiatives on responsible lending have already been implemented by ABA member banks.

ABA Member Banks Assist on Book Up Problems in Indigenous Communities

Sydney, 17 November, 2005: Australian Bankers’ Association’s (ABA) member banks will assist the Northern Territory Government and the Australian Securities and Investments Commission (ASIC) to address the issue of ‘book-up’ in Indigenous communities.

Bank Branches Up 3.6% Over Last Four Years

Sydney, 10 November, 2005: Banks have increased branch levels every year for the past four years, according to survey data released by the Australian Prudential Regulation Authority (APRA).

Banking and Financial Services Ombudsman Annual Report

Sydney, 10 November, 2005: The Australian Bankers’ Association (ABA) said while the number of new disputes dealt with by the Banking and Financial Services Ombudsman (BFSO) has increased by 4.2% compared to last year, retail banking transactions have increased by around 8%.

Bank Profits - Dividends Provide a Strong Foundation for Australians Retirement Savings

Sydney, 9 November, 2005: The Australian Bankers’ Association (ABA) says the profits created by Australian banks are crucial to the returns of Australia’s superannuation funds which assist in helping Australians save for retirement and provide income for retirees.

ABA Welcomes Progress on the Development of a National Electronic Conveyancing System

Sydney, 3 November, 2005: The Australian Bankers’ Association (ABA) supports the development of a National Electronic Conveyancing System and the establishment of an office in Melbourne to coordinate the national effort.

Joint Media Release - Important Message for Internet Banking Customers

27 October, 2005: The Australian Bankers’ Association (ABA) and the Australian High Tech Crime Centre (AHTCC) are warning customers of an ICQ message which has been sent to users of ICQ – an Internet-wide instant messaging service.

Joint Media Release - Review of ATM Security

Sydney, 21 October, 2005: Businesses involved in the provision of ATM and cash machine services in New South Wales are to conduct a security review in the wake of ram raids occurring in New South Wales in the last six months.

Financial Action Task Force Report

Sydney, 18 October, 2005: The Australian Bankers’ Association (ABA) notes the findings of the Financial Action Task Force (FATF) report into anti-money laundering (AML) and counter-terrorist financing (CTF) in Australia, as part of its review of compliance around the world. The report’s recommendations will be useful input into developing Australia’s system for combating serious financial crime.

Australians Under 40 Require Incentives to Encourage Retirement Savings

Sydney, 14 October, 2005: The Australian Bankers’ Association (ABA) said Australians under 40 require improved incentives to boost superannuation savings so that they will have enough retirement income.

Corporate Responsibility should be Voluntary not Mandated

Sydney, 14 October, 2005: The Australian Bankers’ Association (ABA) said accomplishing goals related to corporate responsibility (CR) is best achieved through voluntary adoption of business practices that reflect flexible and strategic decision-making by the Board of Directors.

Banking Industry Continues to Consult on Problem Gambling Issues

Sydney, 7 October, 2005: The Australian Bankers’ Association (ABA) says it continues to consult with the Federal Government on problem gambling and ATMs, despite the fact that the large majority of cash machines in gambling areas are not operated by banks.

IMF Report: Australias Banks Non-Performing Loans Ratio Is One Of The Lowest In The World

Sydney, 23 September, 2005: The Australian Bankers’ Association (ABA) welcomes the International Monetary Fund’s (IMF) Global Financial Stability Report that finds in 2004, Australian banks had one of the lowest non-performing loans ratios of all 94 surveyed countries.

ABA welcomes ASIC fee disclosure survey findings

Sydney, 7 September, 2005: The Australian Bankers’ Association (ABA) welcomes the fee disclosure survey released today by the Australian Securities and Investments Commission (ASIC). It shows that banks have, overall, implemented good fee disclosure policies.

Joint Communique: Third Industry Roundtable on Anti-Money Laundering and Counter-Terrorism Financing

Sydney, 1 September, 2005: The Minister for Justice and Customs Senator Chris Ellison held a third roundtable meeting with representatives of the Australian financial services sector, to progress agreement on outstanding issues related to proposed anti-money laundering (AML) and counter-terrorist financing (CTF) reforms and prepare for the release of draft exposure legislation.

ABA Welcomes APRAs Discussion Paper on Securitisation and Tier 1 Capital Instruments

Sydney, 31 August, 2005: The Australian Bankers’ Association (ABA) welcomes the Australian Prudential Regulation Authority’s (APRA) discussion paper regarding its proposed approach to the prudential treatment of securitisation and its treatment of eligible Tier 1 capital instruments.

ABA submission calls for Adequacy, Simplicity and Literacy for Improving Superannuation Savings of People under age 40

Sydney, 25 August, 2005: The Australian Bankers’ Association (ABA) said public policy initiatives in superannuation should concentrate on adequacy, simplicity and literacy to encourage Australians under age 40 to plan and save earlier for retirement.

Bank Fees are Avoidable and are Disclosed

Sydney, 23 August 2005: The Australian Bankers’ Association (ABA) rejects the claim by the Australian Consumers’ Association (ACA) that banks are charging potentially illegal bank fees.

The Toronto-Dominion Bank Joins The Australian Bankers Association

Sydney, 22 August, 2005: The Australian Bankers’ Association (ABA) has welcomed The Toronto-Dominion Bank, Australia Branch (TD Australia), to its membership.

Joint Communiqué: Second Industry Roundtable on Anti-Money Laundering

Sydney, 16 August, 2005: The Minister for Justice and Customs, Senator Chris Ellison, yesterday held a second roundtable meeting in Sydney with representatives of the Australian financial services sector, to discuss remaining issues related to proposed anti-money laundering (AML) and counter-terrorist financing (CTF) reforms.

ABA Welcomes Abolition of Superannuation Surcharge

Sydney, 11 August, 2005: The Australian Bankers’ Association (ABA) has welcomed the Coalition’s abolition of the superannuation surcharge, which yesterday passed through the Senate.

Joint Communiqué: Industry Roundtable on Anti-Money Laundering

Sydney, 21 July, 2005: The Minister for Justice and Customs, Senator Chris Ellison, today held a roundtable meeting at the Securities Institute of Australia in Sydney, with representatives of the financial services sector to discuss issues related to the proposed anti-money laundering (AML) legislation.

Accessibility of Banking Services

Sydney, 7 July, 2005: The Australian Bankers’ Association (ABA) recognises that banks have made significant progress on making banking services increasingly accessible to older Australians and people with disabilities and the industry is continuously looking to improve service to all customers.

Formation of Finance Industry Council of Australia (FICA)

Sydney, Australia. The formation of a new Australian financial services council with a membership representing the combined interests of Australia's foremost financial sector associations was announced today.

David Morgan Elected as Australian Bankers Associations New Chairman

Sydney, 27 June, 2005: The Council of the Australian Bankers’ Association (ABA) has elected David Morgan, Chief Executive Officer of Westpac, as the new ABA Chairman.

Banking industry acknowledges the Deputy Prime Ministers public policy initiatives

Sydney, 23 June, 2005: The Australian Bankers’ Association (ABA) acknowledges the important public policy initiatives which Deputy Prime Minister and Leader of the Nationals, John Anderson, has developed on behalf of farmers and rural and regional communities.

Establishment of Taskforce

Sydney, 23 June, 2005: The Australian Bankers’ Association (ABA) is establishing an Information Security Taskforce to examine whether the current arrangements with respect to advice on breaches of security of customer information can be improved.

Credit Card Security Breach in the USA

Sydney, 21 June, 2005: The Australian Bankers’ Association (ABA) has contacted Visa, MasterCard and member banks to pool information regarding the breaches of customer security on their credit card accounts.

‘Smarter Super – Make the most of Your Retirement New financial literacy guide for consumers

Sydney, 1 June, 2005: The Australian Bankers’ Association (ABA), the Financial Planning Association (FPA) and the Investment and Financial Services Association (IFSA) have produced a free financial literacy guide – Smarter Super – Make the Most of Your Retirement.

Farmers and bankers call on governments to develop a national framework for native vegetation and biodiversity management

1 June 2005: The Australian Bankers’ Association (ABA) and National Farmers’ Federation (NFF) today jointly urged Australia’s political leaders to agree to develop an Intergovernmental Agreement (IGA) for Native Vegetation and Biodiversity Management at the Council of Australian Governments (COAG) meeting this Friday.

MERCHANTS SHOULD ENSURE THEY PASS ON TO CONSUMERS THE $500M IN SAVINGS FROM CREDIT CARD REFORM

Sydney, 20 May, 2005: The Australian Bankers’ Association (ABA) says that increased credit card fee revenue was the well foreshadowed consequence of the Reserve Bank’s credit card reforms which nearly halved the interchange fee.

Japanese Bankers Association adds breadth to global reach of International Banking Federation

Friday, May 20, 2005: The Japanese Bankers Association (JBA) has joined the banking associations of Europe, the United States, Australia and Canada to broaden the global reach of the International Banking Federation (IBFed). The association will be represented on the IBFed board by its secretary general, Mr Nagao Hashimoto.

ABA WELCOMES RESERVE BANK REPORT ON BANK FEES

Sydney, 19 May, 2005: The Reserve Bank of Australia’s (RBA) report on bank fees records that in 2004 growth in banks’ domestic fee income was the lowest it has been in the survey’s eight-year history.

Report on the operation of private sector privacy provisions finds no fundamental flaw

Sydney, 19 May, 2005: The Australian Bankers’ Association (ABA) welcomes the release of the report into the operation of the private sector provisions of the Privacy Act – ‘Getting in on the Act: The Review of the Private Sector Provisions of the Privacy Act 1988.’

Positive Credit Reporting

Sydney, 13 May, 2005: The Australian Bankers’ Association (ABA) believes that there needs to be more information in the public domain to support an informed public debate about the benefits and disadvantages of positive credit reporting.

Australians Retirement Savings Encouraged By Abolition of Super Surcharge

Sydney, 10 May, 2005: The Australian Bankers’ Association (ABA) welcomes the abolition of the superannuation surcharge announced in tonight’s Budget.

Banks continue to assist rural communities on drought management

Sydney, 10 May, 2005: The Australian Bankers’ Association (ABA) said the banking sector recognises the seriousness of this drought and will continue supporting viable farmers.

Financial services reform proposed refinements to benefit customers

Sydney, 2 May, 2005: The Australian Bankers’ Association (ABA) says the Federal Government's proposed refinements to the financial services reform provisions of the Corporations Act 2001 (Financial Services Reform) are sensible steps which will provide better outcomes for customers.

Members Equity Bank Joins The Australian Bankers Association

Sydney, 28 April, 2005: The Australian Bankers’ Association (ABA) has welcomed Members Equity Bank to its membership.

ABA welcomes the roll out of Bank@Post services

Sydney, 27 April, 2005: The Australian Bankers’ Association (ABA) has welcomed the announcement by the Federal Government that banking services at Australia Post outlets are to be extended to more rural and isolated communities.

IMF report: Australias banks non-performing loans ratio is one of the lowest in the world

Sydney, 22 April, 2005: The Australian Bankers’ Association (ABA) welcomes the International Monetary Fund’s (IMF) Global Financial Stability Report that finds in 2004, Australian banks had one of the lowest non-performing loans ratios of all 82 surveyed countries.

Australian Bankers Association welcomes removal of NT Electronic Debits Duty

Sydney, 19 April, 2005: The Australian Bankers’ Association (ABA) welcomes the Northern Territory Government’s decision to remove the Electronic Debits Duty from 1 July this year.

Trans-Tasman Prudential Harmonisation

Sydney, 31 March, 2005: The Australian Bankers’ Association (ABA) released on its website today its submission to the Reserve Bank of New Zealand (RBNZ) regarding the central bank’s proposed outsourcing policy.

Banks and building societies agree that customers should protect against fraud, but disagree consumers should cease Internet banking

Sydney, 16 March, 2005: Banks and building societies agree that customers should protect against fraud but strongly disagree with some commentators that consumers should cease Internet banking.

Banks and Police Warn Consumers to Protect Their Personal Information Online

Sydney, 8 March, 2005: Banks and Police have joined forces to launch a national education campaign to warn consumers about protecting their personal information online.

Australian Bankers Association Warns Against Misinterpretation of New Survey

Sydney, 1 March, 2005: The Australian Bankers’ Association (ABA) has warned against misinterpretation of survey results released today that says 28 per cent of mortgage borrowers “would have trouble” making payments if interest rates rise 0.5 per cent.

Reserve Banks Announcements on Payments System Reforms

Sydney, 23 February 2005: The Australian Bankers’ Association (ABA) makes some initial comments (below) on today’s announcement from the Reserve Bank on payments systems reforms.

APRAs discussion papers on International Financial Reporting Standards

Sydney, 23 February, 2005: The Australian Bankers’ Association (ABA) welcomes the first-stage release of the Australian Prudential Regulation Authority’s (APRA’s) proposed prudential response to the new International Financial Reporting Standards (IFRS).

Banking industry responds to NSW Minister for Housings media release on lenders mortgage insurance

Sydney, 22 February, 2005: The Australian Banker’s Association (ABA) is unaware that lenders mortgage insurance (LMI) premiums are about to increase as inferred in the NSW Minister for Housing’s media release.

Banks Response to the Choice Survey on Online Banking

Sydney, 21 February 2005: The Australian Bankers’ Association (ABA) said that even though the Australian Consumers’ Association’s (ACA) online banking survey found that 85% of those surveyed feel very or fairly safe when banking online and 95% have virus protection software, the survey results need to be viewed with caution.

Australian Workers Union resolution is short-sighted

Sydney, 10 February, 2005: The Australian Bankers’ Association (ABA) said the Australian Workers’ Union’s (AWU’s) statement that employees should be given priority over lenders in the event of insolvency is very short-sighted.

Tsunami Charity Donations

Sydney, 4 January, 2005: On behalf of the ABA and member banks, ABA CEO, David Bell, expresses his deepest sympathy for the victims of the tsunami disaster.