2008

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2008

ATM industry meet with NSW Police Force

Sydney, 23 December, 2008: Representatives from the NSW Police Force, Australian banks, building societies, credit unions, independent deployers of ATMs and the cash-in-transit industry have this morning met in Sydney to discuss the recent spate of ATM attacks.

Carbon reduction – a market-based solution is part of the answer

Sydney, 16 December, 2008: The Australian Bankers’ Association (ABA) welcomes the release of the Federal Government’s “Carbon Pollution Reduction Scheme: Australia’s Low Pollution Future” (‘White Paper’).

Australian Bankers’ Association says Independent Reviewer has taken balanced approach in her report on the Code of Banking Practice

Sydney, 16 December, 2008: The Australian Bankers’ Association (ABA) welcomes the release of the Final Report on the Review of the Code of Banking Practice from the independent reviewer Jan McClelland.

APCA fraud data Australian fraud rates low – UK four times higher

Sydney, 15 December, 2008: Latest data on payments fraud shows that the rate of fraud is still at low levels although the rate is increasing. Notwithstanding this trend, Australian fraud rates remain well below those experienced in the UK.

ATM attacks – Banks offer reward

Sydney, 15 December, 2008: Banks will offer a reward of $50 000 for information which leads to the arrest and conviction of criminals who attack ATMs to steal cash.

Ombudsman report – Australian Bankers Association member banks perform well in the current uncertain environment

Sydney, 10 December 2008: The Australian Bankers’ Association (ABA) analysis of the 2007-08 Banking and Financial Services Ombudsman (BFSO) annual report shows there has been a small increase in closed cases recorded for ABA member banks.

ATM reforms required by the Reserve Bank of Australia Education campaign underway – three months to go

Sydney, 10 December, 2008: The Australian Bankers’ Association (ABA) welcomes the start of the education campaign explaining how ATM direct charging will change the way consumers pay for ‘foreign’ ATM transactions. This change commences 3 March 2009.

Colleges of Supervisors will help global economy through the downturn says IB Fed

Tuesday December 9, 2008: Cross-border cooperation between the supervisors of major financial firms is essential to ensure commerce continues smoothly through the downturn, the International Banking Federation reports today.

Safe shopping online over the festive season

9 December 2008 Consumers are encouraged to protect themselves online while making purchases in the lead up to Christmas following a warning from the Australian Bankers’ Association (ABA) and the Australian Federal Police (AFP).

Ralph Norris elected Chairman of the Australian Bankers’ Association

Sydney, 3 December, 2008: The Council of the Australian Bankers’ Association (ABA) has elected Ralph Norris, Managing Director and Chief Executive Officer, Commonwealth Bank, as the new ABA Chairman.

Credit and debit card safety in the lead up to Christmas and during the holiday period

Sydney, 26 November, 2008: The Australian Bankers’ Association (ABA) said credit and debit card safety is important when Christmas shopping and during the holiday period.

Government’s legislation on guarantee scheme provides additional certainty

Sydney, 25 November, 2008: The Australian Bankers’ Association (ABA) welcomes the introduction of Commonwealth legislation supporting the Government’s guarantee scheme for large deposits and wholesale funding.

Banks Worldwide Move to Rebuild Financial Stability

15 November, 2008: Moves to rebuilt global financial stability came a step closer today as major international banks pledged support to world leaders meeting for crisis G20 talks.

Banks’ branches – seven years of growth

Sydney, 13 November, 2008: The number of bank branches has increased for the seventh consecutive year, according to a survey released today by the Australian Prudential Regulation Authority.

Joint media release Critical time for farm finance health check

Sydney, 10 November, 2008: Australian farmers should remain diligent and prepared in relation to their farm finances.

Australia’s regulatory capital framework leads to higher capital requirements relative to peer offshore banks

Sydney, 6 November, 2008: Work commissioned by the Australian Bankers’ Association (ABA) has found that Australia’s regulatory capital framework leads to higher capital requirements relative to peer UK banks.

Banks deliver new switching services from tomorrow

Sydney, 31 October, 2008: The Australian Bankers’ Association (ABA) said retail banks, building societies and credit unions will launch new switching services from tomorrow to assist personal bank customers wanting to switch to another transaction account provider

Profits – Australian banks perform well despite the global financial crisis

Sydney, 31 October, 2008: The reporting season for Australian banks is coming to an end and it shows Australian banks are withstanding the global financial crisis, remaining profitable and strong.

FINANCIAL SERVICES REGULATION SUMMIT

Wednesday 29 October, 2008 Credit where credit is due David Bell, Chief Executive of the Australian Bankers’ Association

ABA Statement to Small Business Summit on the Global Financial Services Crisis

Brisbane, 24 October 2008 Small business is a fundamental component of the Australian economy, and Australia’s nearly 2 million small businesses must continue to prosper in the difficult times we all now face. We are here today to assure this sector that banks are continuing to lend to small businesses.

Australian banks have not been weakened by banks’ salaries packages

Sydney, 17 October, 2008: The Australian Bankers’ Association (ABA) said there is no evidence that Australian banks’ salaries packages have weakened our banks. In fact, the opposite is true because our banks are strong.

No bail out of Australian banks

Sydney, 14 October, 2008: The Australian Bankers’ Association (ABA) is concerned that recent announcements by the Federal Government to guarantee deposits and wholesale funding are being characterised as the Australian banks having been bailed out.

ABA welcomes national regulation of consumer credit

Sydney, 3 October, 2008: The Australian Bankers’ Association (ABA) welcomed the important agreement that the Commonwealth will assume responsibility for the regulation of consumer credit from yesterday’s Council of Australian Government’s (COAG) meeting.

Coalition’s position on interest rates is extremely poor policy

Sydney, 1 October, 2008: The Australian Bankers' Association (ABA) said that the Coalition's policy that banks should pass on any Reserve Bank interest rate cuts, regardless of the cost of funds in wholesale markets, is extremely poor policy.

FICA Launches State Tax Reform Report

1 October 2008 Media Release The Finance Industry Council of Australia (FICA) today launched modelling into State stamp duty reform undertaken by Access Economics. The report “Analysis of State Tax Reform”, prepared by Access Economics, notes that reforming State stamp duties could produce gains to the national economy equivalent in scale to the microeconomic reforms of the past two decades. welcomed the release of “A Report on Costs of Financial Services 2007” by the Australian Securities and Investments Commission (ASIC).

Australian banks’ sound lending practices have protected customers from a US-style sub-prime crisis

Sydney, 1 October, 2008: The Australian Bankers’ Association (ABA) said the responsible and conservative lending stance which has been adopted by the Australian banks means the sector is strong and withstanding the global turmoil.

FICA welcomes recent appointments to Financial Services Centre initiative

30 September 2008 Media Release The Finance Industry Council of Australia (FICA) welcomes the recent appointment of Mr Mark Johnson to take up the important role of leading the joint industry and government Financial Services Centre initiative.

Two recent reports note the Australian banking sector is strong and withstanding the credit crisis

Sydney, 30 September, 2008: The Australian Bankers’ Association (ABA) said the instability of some overseas financial institutions helps demonstrate the value of the Australian banking sector’s strength.

Australian Bankers’ Association response to the Treasurer’s statement on the mortgage market

Sydney, 26 September, 2008: The Australian Bankers’ Association (ABA) notes the Commonwealth Government has announced it will be funding housing loans through the purchase of AAA rated mortgage securities, known technically as Residential Mortgage Backed Securities.

ABA welcomes appointment of Chair and expert panel for Financial Services Centre initiative

Sydney, 26 September, 2008: The Australian Bankers’ Association (ABA) welcomes the announcement today of the appointment of Mr Mark Johnson to take up the important role of leading the joint industry and government Financial Services Centre initiative.

Australian Bankers Association responds to claims about banks record margins

Sydney, 24 September, 2008: The Australian Bankers’ Association (ABA) is responding to a newspaper report today that banks are enjoying record profit margins. This is not correct; the published statistics used to justify this claim have been misinterpreted.

ABA says ASIC ban on short selling is prudent given overseas regulatory actions

Sydney, 23 September, 2008: The Australian Bankers’ Association (ABA) said the Australian Securities and Investments Commission (ASIC) has been prudent in taking action on issues related to short selling, given the current market environment.

Exception fees – market approach is working for customers Senate Committee report said it cannot support Family First Bill

Sydney, 17 September, 2008: The Australian Bankers’ Association (ABA) has welcomed a Senate Committee majority report which recognises that the approach banks have taken on exception fees which has benefited consumers and has provided evidence of competition in the marketplace.

ATMs and gaming venues Proposed bills will add costs and could hurt consumers

Sydney, 12 September, 2008: The Australian Bankers’ Association (ABA) has outlined the consequences of proposals to regulate access to cash.

Exception fees trending down – the market is working for customers

Sydney, 11 September, 2008: The Australian Bankers’ Association (ABA) said the reductions in exception fees and the emergence of accounts which don’t charge these fees demonstrates the market is delivering results for bank customers.

Submission on model to reduce carbon pollution in Australia – Australian Bankers’ Association

Sydney, 11 September, 2008: The Australian Bankers’ Association (ABA) supports the Federal Government’s Carbon Pollution Reduction Scheme but would like to see some changes that would improve the efficiency of the carbon market.

A study in contrasts Australias banking system versus United States

Sydney, 9 September, 2008: The Australian Bankers’ Association (ABA) says the US Government’s taxpayer bailout of the nation’s two biggest mortgage companies helps demonstrate the value of Australia’s banking sector’s strength.

Senator Xenophons erroneous claims on bank switching

Sydney, 3 September, 2008: The Australian Bankers’ Association (ABA) has responded to erroneous claims made yesterday by Senator Nick Xenophon.

Australian Bankers Association comments on bank account switching package

Sydney, 15 August, 2008: The Australian Bankers’ Association (ABA) said that the banking sector is on track to deliver the transaction account switching package which starts in November.

Australian Bankers Association says tax reform is an opportunity to support our nations future prosperity

Sydney, 11 August, 2008: The Australian Bankers’ Association (ABA) looks forward to participating in the Tax Review because reforming the tax system to support our nation’s future prosperity is crucial.

Australian Bankers Association responds to debate on lending standards

Sydney, 6 August, 2008: The Australian Bankers’ Association (ABA) said any debate on lending standards should be based on the facts.

DONT BE A MULE – SAY NO TO TRANSFERRING MONEY FOR CRIMINALS

Wednesday, 6 August, 2008: Banks and Australian Federal Police (AFP) are warning the public of job offer scams which trap you into laundering money for criminals by becoming a money mule.

Australian Bankers Association welcomes Federal Governments commitment to enhancing Australia as a Financial Services Centre

Sydney, 31 July, 2008: The Australian Bankers’ Association (ABA) has welcomed the formation of a Treasury team which will concentrate its efforts on enhancing Australia as a Financial Services Centre.

Australian Bankers Association responds to reports on mortgage stress

Sydney, 28 July, 2008: The Australian Bankers’ Association (ABA) is keen to ensure the debate about home lending and defaults on mortgages is based on facts. The ABA is concerned that the projections on mortgage stress by Fujitsu Consulting and Wizard Home Loans are inflated by double counting and inclusion of investor and developer properties.

Australian Bankers Association comments on Consumer Price Index

Sydney, 25 July, 2008: The Australian Bankers’ Association (ABA) said the main reason for the rise in the prices of financial services which form part of the Consumer Price Index (CPI) has been the result of increases in interest rates since August last year.

Federal Government and Australian Bankers Association Committed to Enhancing Australia as a Financial Services Centre

Sydney, 22 July, 2008: The Prime Minister, The Hon. Kevin Rudd, and the Australian Bankers’ Association (ABA) met today to discuss a new agenda for cooperation between the Federal Government and the banking industry to enhance Australia as a financial services centre in the Asia Pacific.

Carbon reduction – a market-based solution is part of the answer

Sydney, 16 July, 2008: The Australian Bankers’ Association (ABA) welcomes today’s release of the Federal Government’s approach to reducing Australia’s greenhouse gas emissions as outlined in ‘The Green Paper’. It is important to support the development of a global carbon market initially through the introduction of a national Emissions Trading Scheme (ETS) or carbon market for Australia.

Australian Bankers Association calls for national consistent laws on occupational health and safety

Sydney, 15 July, 2008: The Australian Bankers’ Association (ABA) says that disparity between the Occupational Health and Safety (OHS) laws and regulations between jurisdictions continues to undermine a fair and safe workplace culture in Australia.

Australian banks still face high wholesale funding costs due to US sub-prime crisis

Sydney, 15 July, 2008: The Australian Bankers’ Association (ABA) said banks’ explanations provided after recent increases in interest rates show they are making balanced decisions in a difficult environment.

Australian Bankers Association welcomes new national Ombudsman service

Sydney, 10 July, 2008: The Australian Bankers’ Association (ABA) has welcomed the launch of the new Financial Ombudsman Service (FOS) which will provide free assistance to customers who have a dispute or complaint about a financial product or service.

Australian Bankers Association welcomes transfer of all consumer credit to the Commonwealth

Sydney, 3 July, 2008: The Australian Bankers’ Association (ABA) today congratulated the State, Territory and Commonwealth Governments for reaching the important agreement that the Commonwealth will assume responsibility for the regulation of all consumer credit.

Australian Bankers Association submission on the Financial Services and Credit Reform Green Paper

Sydney, 3 July, 2008: The Australian Bankers’ Association (ABA) this week filed a submission to Treasury on the Financial Services and Credit Reform Green Paper (the Green Paper).

Improving financial understanding and dealing with financial exclusion: Australian Bankers Association holds summit to learn about effective financial literacy programs

Sydney, 2 July, 2008: The Australian Bankers’ Association (ABA) and its member banks continue to work on bridging the gap to improve financial literacy levels and to especially work with those in our community who are financially marginalised.

Banks support WA during energy crisis

Sydney, 1 July 2008: The Australian Bankers’ Association (ABA) today reminded residents of Western Australia that special emergency relief packages are available for bank customers affected by the Varanus Island gas plant explosion and called on them to contact their bank immediately if they are in financial trouble.

Australian Bankers Association welcomes reappointment of Australian Prudential Regulation Authority chairman

Sydney, 25 June, 2008: The Australian Bankers’ Association (ABA) has welcomed the reappointment of the Australian Prudential Regulation Authority (APRA) chairman Dr John Laker and deputy chairman Ross Jones to new five-year terms of office.

Price caps on exception fees will hurt customers

Sydney, 12 June, 2008: The Australian Bankers’ Association (ABA) said price caps on exception fees will hurt consumers and means imposing more unnecessary business regulation on financial services providers.

Stay Smart Online Australian Bankers Association supports E-security Awareness Week

Sydney, 6 June, 2008: Your personal information is valuable and needs to be protected from online identity thieves who seek to steal this information, according to the Australian Bankers’ Association (ABA).

Australian Bankers Association comments

Sydney, 3 June, 2008: The Australian Bankers’ Association (ABA) has commented on two policies announced yesterday by the Federal Government which affect the banking industry – a deposit insurance scheme and the retention of the Four Pillars policy.

Credit regulation – simple transfer to Commonwealth is the answer

Sydney, 3 June, 2008: The Australian Bankers’ Association (ABA) supports the Federal Government’s option for a national approach to the regulation of consumer credit which has today been outlined in ‘The Green Paper’.

Billions of transactions, fraud incidence remains low

Sydney, 30 May, 2008: New data on payments fraud shows that while the value of transactions continues to climb, the incidence of fraud remains low.

Review of the Code of Banking Practice

Sydney, 28 May, 2008: The Australian Bankers’ Association (ABA) will be studying the Issues Paper which has been produced for the Review of the Code of Banking Practice.

Credit card fee revenue linked to interchange fee reforms Australian Bankers Association responds to Choice

Sydney, 15 May, 2008: The Australian Bankers’ Association (ABA) is responding directly to a media release issued today by Choice that expresses concern about exception fees for credit card fee revenue.

Bank service fee revenue falling against key benchmarks

Sydney, 15 May, 2008: The Australian Bankers’ Association released a new report today showing trends in bank service fee revenue.

Australian Bankers Association responds to 2008 Budget initiatives

Sydney, 14 May, 2008: The Australian Bankers’ Association (ABA) has welcomed some of the 2008 Budget initiatives which relate to bank customers and enhancing Australia’s position as a financial services centre.

Banks are responsible lenders – debate should be based on the facts

Sydney, 9 May, 2008: The Australian Bankers’ Association said any debate on lending standards should be based on the facts.

Senators call for increased regulation will be detrimental for bank customers and the nation

Sydney, 1 May, 2008: The Australian Bankers’ Association (ABA) said Senator Steve Fielding’s call for further regulation of banks and other lenders is out of step with the Federal Government’s aim of reducing regulation for business and will lead to economic inefficiency to the detriment of Australia.

ABA welcomes UK court decision that UK banks fees are not penalties

Sydney, 25 April, 2008: A court decision in the UK has considered “exception fees”, that is, specified bank fees that are payable under certain circumstances such as when a customer exceeds an overdraft or credit limit.

Non-banks have the most expensive mortgage exit fees

Sydney, 6 April, 2008: The Australian Bankers’ Association (ABA) is pleased that the Federal Government is pushing ahead with nationally consistent financial services regulation following the release of the Australian Securities and Investments Commission’s (ASIC) review of mortgage entry and exit fees.

Australian Bankers Association comments on the issue of working families and interest rates

Sydney, 5 April, 2008: The Australian Bankers’ Association (ABA) said “The Daily Telegraph” has got its analysis wrong of the Reserve Bank Governor’s economic objectives.

Banks and wheat crop funding - Access to finance continues

Sydney, 2 April, 2008: The banking sector wants to reassure grain growers that access to finance will continue, despite the uncertainty about how future Australian wheat crops will be marketed and exported.

FICA welcomes Government and ASICs commitment to continue to work with industry on improving financial services regulation

Sydney, 1 April, 2008, Australia: The Finance Industry Council of Australia (FICA), Australia’s peak banking and finance sector body welcomed the release of “A Report on Costs of Financial Services 2007” by the Australian Securities and Investments Commission (ASIC).

Banks are responsible lenders ABA responds to ACTU

Sydney, 1 April, 2008: The Australian Bankers’ Association (ABA) said the Australian Council of Trade Unions (ACTU) needs to concentrate its efforts on predatory lenders, rather than banks which are responsible lenders.

Banking sector welcomes Federal Governments decision on component pricing

Sydney, 30 March, 2008: The Australian Bankers’ Association (ABA) has welcomed the Federal Government’s decision to exempt financial service providers from the component pricing requirements.

Banking industry committed to Earth Hour

Sydney, 27 March, 2008: The banking sector supports Earth Hour as part of its commitment to take action on climate change.

ABA welcomes reports of Federal oversight of financial services proposals

Sydney, 25 March, 2008: The Australian Bankers’ Association (ABA) congratulates the Federal Government on providing a major focus on the need for nationally consistent financial services regulation. does not directly affect its member banks.

Victorian Governments decision to remove ATMs in gaming venues

Sydney, 14 March, 2008: The Australian Bankers’ Association (ABA) said the Victorian Government’s announcement regarding the removal of ATMs from Victorian gaming venues does not directly affect its member banks.

Australian Bankers Association responds to debate on interest rate movements

Sydney, 12 March, 2008: The Australian Bankers’ Association (ABA) said banks are making sensible and balanced decisions regarding their interest rate policies in a difficult environment.

Banking Sector Jobs Increase by More Than 10 000

Sydney, 3 March, 2008: The banking sector continues to create more job opportunities for Australians.

Financial literacy initiatives for Indigenous Australians Banks and Credit Unions work together with the community to deliver

Sydney, 26 February, 2008: Banks, credit unions and building societies support and are delivering a suite of financial literacy initiatives for Indigenous Australians.

Keep your financial identity secure Banks support Scamwatch campaign

Sydney, 24 February, 2008: The Australian Bankers’ Association (ABA) is reminding customers to take some practical prevention steps to minimise the risk of criminals committing identity theft.

Australian Bankers Association responds to ACTU

Sydney, 22 February, 2008: The Australian Bankers’ Association (ABA) refuted allegations from the Australian Council of Trade Unions (ACTU) that banks repossess homes when homeowners are only a few weeks behind in repayments.

Positive initiatives on switching bank accounts to assist customers

Sydney, 9 February, 2008: Banks have committed to some additional positive initiatives to assist personal bank customers wanting to switch their bank accounts to a new provider.

Competition in housing lending extremely strong Choice allegations wrong

Sydney, 17 January, 2008: The Australian Bankers’ Association (ABA) said Choice is wrong in claiming that competition is being undermined by banks charging fees related to the opening and closing of home loans.

Coalition Disclosure Policy Not Sensible

Sydney, 16 January, 2008: The Australian Bankers’ Association (ABA) says that Australian banks have already provided reasons as to why they have recently increased housing mortgage rates.

Australian Bankers Association responds to recent issues related to Australian banks

Sydney, 14 January, 2008: The Australian Bankers’ Association (ABA) is today responding to recent statements about competition in Australian banking, particularly the home lending market. The ABA is concerned that some factually incorrect information is now being accepted as factually accurate.