2009

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2009

Small Business Financing– proposed Senate Inquiry

Sydney, 17 December, 2009: The Australian Bankers’ Association (ABA) would participate in any inquiry into small business financing because it would provide an opportunity to explain how the strength of Australian banks allowed lending to continue to the small business sector throughout the global financial crisis.

Credit and debit card safety during the holiday period

Sydney, 14 December, 2009: The Australian Bankers’ Association (ABA) said credit and debit card safety is important when Christmas shopping and during the holiday period.

Joint media release - Managing debt critical to business health

Sydney, 9 December, 2009: The Australian Bankers’ Association (ABA) and CPA Australia are encouraging small businesses to consider whether their current debt arrangements fit the needs of the business.

Australian Bankers’ Association analysis of APCA payments fraud data

Sydney, 9 December, 2009: The Australian Bankers’ Association’s (ABA) analysis of payments fraud data over the past three years shows that the overall incidence of fraud has increased slightly.

Australian Bankers’ Association and member banks attend Business Roundtable in Cairns

Cairns, 8 December, 2009: The Australian Bankers’ Association (ABA) has today joined member banks at a Business Roundtable meeting to discuss local economic conditions in Cairns, Queensland.

Strong dollar means goods are cheaper but shop safely online over the festive season

Sydney, 4 December, 2009: The Australian Bankers’ Association (ABA) and the Australian Federal Police (AFP) expects that the strength of the Australian dollar will this year prompt more online Christmas shopping with merchants located overseas and are encouraging consumers to protect themselves when making any online purchases.

Senate Committee opposes Senator Fielding’s proposed bill on interest rates

Sydney, 25 November, 2009: The Australian Bankers’ Association (ABA) said the Senate Economics Committee has made a sensible recommendation in opposing legislation to politicise interest rate setting.

Australian Bankers' Association welcomes funding toward the development of a national water system

Sydney, 16 November, 2009: The Australian Bankers’ Association (ABA) welcomes the Federal Government’s announcement of $56 million in funding for the development of a national water market system.

Bank branches - eight years of growth

Sydney, 12 November, 2009: The number of bank branches has increased for the eighth consecutive year, according to a survey released today by the Australian Prudential Regulation Authority (APRA).

IBFed says it's time for action

London, 6 November, 2009: G20 members need to follow through on their commitments, the International Banking Federation [IBFed] told Finance Ministers attending this weekend’s G20 Summit in Scotland today. The IBFed called on governments to focus on the coordinated reforms they had signed up to at previous summits, adding up the total cost and impact of what they were suggesting before agreeing more and more new measures.

Property loans and capital

Sydney, 5 November, 2009: In response to a newspaper story yesterday, the Australian Bankers’ Association (ABA) said that property investors should not expect any changes to bank property lending as a result of the Australian Prudential Regulation Authority’s (APRA) recently announced common definition of Income Producing Real Estate (IPRE).

Banks’ profits – Australian banks strong despite the global financial crisis

Sydney, 4 November, 2009: With recent news that more than 100 banks have failed in the United States, Australian banks have endured the ultimate stress test of the global financial crisis to emerge strong and still delivering profits.

ABA warns about scam - hoax e-mail from ‘South African Reserve Bank’

Sydney, 30 October, 2009: The Australian Bankers’ Association (ABA) is warning bank customers about a hoax e-mail scam.

CPI - significant fall in prices for deposit

Sydney, 30 October, 2009: The Australian Bankers’ Association (ABA) said over the 12 months to the end of September 2009, the cost of financial services (excluding insurance) fell by a large 10.4% compared with an increase of 1.3% for the Consumer Price Index (CPI).

Retailers benefit from payment system reforms

Sydney, 28 October, 2009: The Australian Bankers’ Association (ABA) says that Australian retailers are big winners from retail payments reform in Australia. Since 2002, merchants across Australia have seen the costs of accepting credit cards and charge cards fall.

Banks protect their customers’ personal information and comply with the legal requirements

Sydney, 26 October, 2009: The Australian Bankers’ Association (ABA) says, in response to news reports today, that confidentiality and security of customer information is critical to Australia’s banks.

Productivity Commission draft report on gambling – Australian Bankers' Association comments

Sydney, 21 October, 2009: The Australian Bankers’ Association (ABA) said less than 1% of ATMs located in gaming venues in Australia are ‘bank branded’ .

Warning on telephone survey scam

Sydney, 16 October, 2009: The Australian Bankers’ Association (ABA) has learned of a scam telephone survey which falsely claims to be undertaken by the ABA.

Federal Government’s proposals on changes to the Privacy Act – Australian Bankers’ Association responds

Sydney, 15 October, 2009: The Australian Bankers’ Association (ABA) said the Federal Government has accepted most of the Australian Law Reform Commission’s (ALRC) proposals to change the Privacy Act.

Australian Bankers’ Association disagrees with Professor Garnaut’s comments on banks

Sydney, 13 October, 2009: The Australian Bankers’ Association (ABA) said today that it disagrees with economist Professor Ross Garnaut’s comments on banks.

Australian Bankers' Association says deposits up to $1m are guaranteed

Sydney, 12 October, 2009: The Australian Bankers’ Association (ABA) is reminding consumers that deposits up to $1 million or less are automatically guaranteed under the Government’s Financial Claims Scheme.

Students – don’t fall for a mule scam when seeking holiday jobs

Sydney, 12 October, 2009: Banks and the Australian Federal Police (AFP) have targeted university students to warn them about money mule scams when seeking holiday employment.

AUSTRALIA RANKED 2ND GLOBAL FINANCIAL CENTRE – WORLD ECONOMIC FORUM REPORT

9 October 2009 Media Release The Finance Industry Council of Australia (FICA) welcomes the findings of the World Economic Forum’s second annual Financial Development Report which ranks Australia second in the world as a global financial centre.

Australian Bankers' Association comments on Executive Remuneration report

Sydney, 30 September, 2009: The Australian Bankers’ Association (ABA) said the Productivity Commission’s report “Executive Remuneration in Australia” is very well researched and, as a result, reaches balanced conclusions and policy proposals.

Australian Bankers' Association response on Reviewer's recommendations to update the Code of Banking Practice

Sydney, 10 September, 2009: The Australian Bankers’ Association (ABA) says the banking sector has accepted the vast majority of recommendations made by the Independent Reviewer to update the Code of Banking Practice.

Helping your kids protect their identity online

Sydney, 24 August, 2009: Banks and the Australian Federal Police (AFP) are encouraging parents to have a discussion with children about online safety and protecting their identity from criminals.

Banking sector needs new start date for proposed unfair contract terms

Sydney, 26 August, 2009: The Australian Bankers’ Association (ABA) said the banking industry will not have enough time to review and, where necessary, amend their consumer standard form contracts and security instruments to be ready for the start of the proposed unfair contract terms regime in January next year.

Australian Bankers’ Association calls for comprehensive credit reporting

Sydney, 24 August, 2009: The Australian Bankers’ Association (ABA) said if the National Consumer Credit Protection Bill 2009 will include responsible lending obligations, then more comprehensive credit reporting must be put in place at the same time.

Consumers pay down credit card debt

Sydney, 21 August, 2009: Analysis by the Australian Bankers’ Association (ABA) of Reserve Bank of Australia (RBA) credit card data demonstrates customers are paying down debt and are sensibly managing their credit cards in the current economic environment.

Chief Executive – Australian Bankers’ Association

Sydney, 20 August, 2009: The Chairman of the Australian Bankers' Association (ABA), Ralph Norris, today announced that David Bell, will be stepping down as Chief Executive of the ABA.

APRA, ASIC and FICA hold meeting

12 August 2009 Media Release On 10 August 2009, the Board of the Finance Industry Council of Australia (FICA) met with the ASIC Commissioners and APRA Members to discuss a range of regulatory and industry issues, against the backdrop of the global financial crisis

New deputy chairman for Australian Bankers Association

Sydney, 31 July, 2009: The Council of the Australian Bankers’ Association (ABA) has elected David Liddy, Chief Executive Officer of Bank of Queensland, as the new Deputy Chairman of the industry organisation.

Smarter banking: Make the Most of Your Money Consumer guide on banking updated

Sydney, 29 July, 2009: The Australian Bankers’ Association (ABA) has updated and re-published its consumer booklet – “Smarter Banking: Make the Most of Your Money.”

Financial services prices fall

Sydney, 23 July 2009: Yesterday’s release of the Consumer Price Index (CPI) by the Australian Bureau of Statistics (ABS) showed a large fall in the price of financial services, in particular, for deposit and loan facilities.

Australian Bankers’ Association comments on Queensland CMC report

Sydney, 23 July, 2009: The Queensland Crime and Misconduct Commission (CMC) has published a report which sets out evidence suggesting Queensland Police misused money in a fund which they had set up in 1999 to pay informants for information regarding bank robberies.

FICA nominates new Chair

13 July 2009 Media Release The Finance Industry Council of Australia (FICA) today elected Duncan Fairweather, Executive Director of the Australian Financial Markets Association, as the new Chairman of FICA.

Australian Bankers' Association warns of hoax e-mail and survey

Sydney, 30 June, 2009: The Australian Bankers’ Association (ABA) is warning of a hoax e-mail and survey that claims to offer money in return for completing a survey for the ABA.

Sensible outcome in Consumer Credit Bill but more work to be done

Sydney, 25 June, 2009: The Australian Bankers’ Association (ABA) welcomed the National Consumer Protection Credit Bill 2009 because the banking sector supports nationally consistent outcomes for the millions of Australian consumers of credit products and services.

Australian Bankers’ Association welcomes security assessment of new Internet domain names

Sydney, 22 June, 2009: The Australian Bankers’ Association (ABA) is supporting the work of the global financial services industry* on reviewing proposals to change Internet domain names.

More banks adopt hardship principles

Sydney, 21 June, 2009: The Australian Bankers’ Association (ABA) said more retail banks have now adopted the common set of principles to assist individual borrowers who are facing temporary hardship.

Australian Bankers’ Association responds to Senator Xenophon

Sydney, 16 June, 2009: The Australian Bankers’ Association (ABA) said the policy measures put forward by the Independent Senator for South Australia, Nick Xenophon, would have the opposite effect of what he is trying to achieve.

Banking fact sheets to help small business

Monday, 15 June, 2009: The Australian Bankers’ Association (ABA) and CPA Australia have partnered to provide small businesses with information on applying for loans and how to deal with debt.

Adverse impacts on business - Unfair contract terms the Victorian experience

Sydney, 15 June, 2009: The Australian Bankers’ Association (ABA) said the effect of the unfair contract terms regime in Victoria has been a drain on businesses resources with little benefit for consumers.

Unfair contract terms regime = increased risk for banking sector

Sydney, 5 June, 2009: The Australian Bankers’ Association (ABA) said the Government’s proposed unfair contracts regime creates uncertainty for the banking sector.

Increased costs and delays - Impacts of proposed national consumer credit regime

Sydney, 5 June, 2009: The Australian Bankers’ Association (ABA) said the proposed national consumer credit legislation will make applying for credit a slower and more complex process, increasing costs for banks and consumers.

Protect your financial identity during National E-Security Awareness Week

5 June, 2009: The Australian Bankers’ Association (ABA) and the Australian Federal Police (AFP) are supporting the Federal Government’s National E-Security Awareness Week which seeks to raise awareness about how to stay safe online.

Australian Bankers’ Association's initial response to APRA's Prudential Standard on remuneration

Sydney, 29 May, 2009: The Australian Bankers’ Association (ABA) welcomed the consultation on the Australian Prudential Regulation Authority’s (APRA) Prudential Standard on remuneration.

Bank fees paid by households – 30% are avoidable

Sydney, 21 May, 2009: The Australian Bankers’ Association (ABA) said analysis shows there is considerable scope for households to reduce their total fees paid to Australian banks. By some simple changes in behaviour and using tools provided by banks, customers could save a reasonable amount.

Australian Bankers’ Association analysis of APCA payments fraud data over three years

Sydney, 15 May, 2009: The Australian Bankers’ Association (ABA) analysis of payments fraud data for the last three years to the end of 2008 shows a decline in the rate of cheque and debit card fraud, but an increase in credit card fraud.

Australian Bankers’ Association comments on ASIC report on financial hardship

Sydney, 8 May, 2009: The Australian Bankers’ Association (ABA) said banks want to help their customers if they are experiencing financial difficulty, and that’s why these customers should contact their bank as early as possible.

Joint Media Release - New Reward and Strategy on ATM Security

May 7, 2009: Minister for Police Tony Kelly today announced that the NSW Government will offer a $200,000 reward for information leading to arrests and convictions for the ATM explosions across NSW.

Investec joins the Australian Bankers Association

Sydney, 5 May, 2009: The Australian Bankers’ Association (ABA) has welcomed Investec Bank (Australia) Limited (Investec) into its membership.

ABA comments on Federal Government’s changes to the proposed Carbon Pollution Reduction Scheme

Sydney, 4 May, 2009: The Australian Bankers’ Association (ABA) said the Federal Government’s changes to the proposed Carbon Pollution Reduction Scheme (CPRS) will create additional complexity, uncertainty and costs for businesses and other market participants, as well as, inhibit the development of markets to help businesses manage their carbon price exposure.

Australian borrowers enjoy more interest rate pass-through than other developed countries – ABA says result of strong banking sector

Sydney, 30 April, 2009: The Australian Bankers’ Association (ABA) said for the Australian banking industry to remain stable and secure, it is essential for the banks to remain well-run and profitable, especially while the effects of the global financial crisis continue to impact our economy.

ATMs - Banks increase security measures

Sydney, 28 April, 2009: The Australian Bankers’ Association (ABA) says banks are increasing security measures on ATMs following recent attacks by criminals.

Australian Bankers’ Association comments on draft National Consumer Credit Protection Bill 2009

Sydney, 27 April, 2009: The Australian Bankers’ Association (ABA) notes draft national credit laws which have been released for public comment.

Prices of financial services down – Consumer Price Index

Sydney, 23 April, 2009: The Australian Bankers’ Association (ABA) said that the latest Consumer Price Index (CPI) data shows prices of financial services fell by 3.6% compared with an increase of 2.5% for the CPI, over the 12 months to the end of March 2009.

Update provided on banks and lending to small business

Sydney, 16 April, 2009: The Australian Bankers’ Association (ABA) is again assuring the small business sector that banks’ doors are open and they are lending to viable small businesses.

Bank interest margins and funding costs

Sydney, 15 April, 2009: The Australian Bankers’ Association (ABA) said today that the current debate over bank interest margins and bank funding costs is missing much needed balance and accuracy.

ABA comments on bank executive remuneration

Sydney, 9 April, 2009: The Australian Bankers' Association (ABA) said today that while there is a case that executive salaries in some US and UK financial institutions may have contributed to excessive risks, there is no evidence to suggest that this has been the case in Australia.

Interest rate debate missing balance

Sydney, 9 April, 2009: The Australian Bankers' Association (ABA) has expressed concern that some politicians and commentators are encouraging bank bashing through use of extreme language and failing to present a balanced assessment of the banks' interest rate decisions.

Advice to bank customers regarding skimming incidents

Sydney, 7 April, 2009: The Australian Bankers’ Association (ABA) is assuring customers they are not liable for unauthorised transactions on their accounts when they become victims of skimming crimes.

FOUR MAJOR BANKS ADOPT EXPANDED PRINCIPLES ON HARDSHIP

Sydney, 5 April, 2009: The Australian Bankers’ Association (ABA) said the four major Australian banks have adopted a set of common principles to assist individual borrowers who are facing temporary financial hardship.

Australian Bankers’ Association says there should be no delay in implementing Anti-Money Laundering laws

Sydney, 2 April, 2009: The Australian Bankers’ Association (ABA) said there should be no delay in implementing the second tranche of the Anti-Money Laundering laws because it could put Australia out of step with the rest of the world.

International conference to tackle money laundering and terrorism financing

1 April 2009: A major international conference dedicated to the fight against money laundering and terrorism financing begins in Sydney today.

Banking sector participating in Earth Hour

Sydney, 24 March, 2009: The banking sector is supporting Earth Hour by switching off the lights in landmark offices on 28 March at 8.30pm for one hour.

Interest burden lightens for households

Sydney, 23 March, 2009: The Australian Bankers’ Association (ABA) notes there has been a record fall in the interest burden paid by Australian households.

Facts missing from FSU claims in media release

Sydney, 20 March, 2009: The Australian Bankers’ Association (ABA) said, judging from today’s Finance Sector Union (FSU) media release , there appears to be important information missing from their upcoming campaign.

More hypocrisy from Choice – this time on credit cards

Sydney, 19 March, 2009: The Australian Bankers’ Association (ABA) said today that Choice's media release criticising credit card loyalty schemes is somewhat surprising.

Australian Bankers’ Association welcomes important tax change

Sydney, 12 March, 2009: The Australian Bankers’ Association (ABA) has welcomed a significant tax reform which will reduce the compliance burden for Australian banks.

Banks don’t own these ATMs!

Sydney, 11 March, 2009: The Australian Bankers’ Association (ABA) said that media outlets are contacting the ABA to explain the claims about ATMs made in a newspaper article today published in “The Daily Telegraph”.

Find your own banks' ATMs to minimise fees under new rules

Sydney, 10 March, 2009: The Australian Bankers’ Association (ABA) is reminding customers how to minimise fees when completing a foreign ATM transaction under new rules.

Communique – Small Business Roundtable

Sydney, 6 March, 2009: The Minister for Small Business, Independent Contractors and the Service Economy, Craig Emerson, and representatives of banks and small business organisations today met in Melbourne to consider issues associated with the provision of finance to small business against the background of the global financial crisis.

Banks supply information to customers about new ATM rules

Sydney, 5 March, 2009: The Australian Bankers’ Association (ABA) said banks are supplying information to their customers regarding direct charging at ATMs.

Have you seen the fee when completing a foreign ATM transaction?

Sydney, 4 March, 2009: The Australian Bankers’ Association (ABA) said some customers will now have experienced seeing a fee disclosed on the screen when completing a foreign ATM transaction.

Bank customers should locate free ATMs to minimise fees - ATM reforms start today

Sydney, 3 March, 2009: The Australian Bankers’ Association (ABA) advises that bank customers will need to understand how to locate free ATMs, now that ATM reforms have started today.

One day to go to ATM reforms - Bank customers be prepared

Sydney, 2 March, 2009: The Australian Bankers’ Association (ABA) is urging bank customers to be prepared for tomorrow’s changes at ATMs which are required by the Reserve Bank.

Don't get caught out by scams

Sydney, 2 March, 2009: Have you ever been made an offer that sounds too good to be true, that compels you to provide confidential personal information or asks you to send money especially overseas? Well it’s probably a scam engineered by criminals to defraud you of money.

Important changes to the way you see ATM fees

Sydney, 1 March, 2009: The Australian Bankers’ Association (ABA) said important changes to ATMs, required by the Reserve Bank, start on Tuesday this week.

ATM direct charging starts on 3 March - What you need to know to minimise fees

Sydney, 28 February, 2009: The Australian Bankers’ Association (ABA) says customers need to be prepared for next week’s ATM direct charging reforms which are required by the Reserve Bank.

Customers need to understand how to locate free ATMs after 3 March

Sydney, 27 February, 2009: The Australian Bankers’ Association (ABA) advises customers they will need to know how to locate free ATMs before changes to ATM charging start next week.

ATM reforms Australian Bankers’ Association responds to Reserve Bank Governor

Sydney, 20 February, 2009: The Australian Bankers’ Association (ABA) notes the comments by the Reserve Bank Governor today on aspects of ATM reforms which have been required by the central bank. The ABA appreciates the Reserve Bank’s acknowledgement that there are card issuer costs when customers use ATMs not belonging to their bank. However, ABA regards the range of costs is wider than that acknowledged in the Reserve Bank’s comments.

Credit card data shows steep decline in demand for credit

Sydney, 20 February, 2009: Australian Bankers’ Association (ABA) analysis of the latest credit card figures shows a steep decline in households’ demand for credit.

Finance Sector Union should support strong banks

Sydney, 18 February, 2009: The Australian Bankers' Association (ABA) has today expressed surprise at the Finance Sector Union (FSU) statement which criticised bank charges, including ATM fees.

Banks still lending to viable small businesses

Sydney, 18 February, 2009: The Australian Bankers’ Association (ABA) will today assure the Council of the Small Businesses of Australia (COSBOA) that banks are still lending to the sector.

Australian Bankers’ Association comments on discussion paper – ‘An Australian Consumer Law’

Sydney, 17 February, 2009: The Australian Bankers’ Association (ABA) notes the release of the discussion paper ‘An Australian Consumer Law’ launched today in Melbourne by the Federal Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, Mr Chris Bowen.

Choice misguided once again

Sydney, 16 February, 2009: The Australian Bankers’ Association (ABA) said Choice’s media release, issued today, implicitly alleges that banks will be wrongfully charging customers $200 million in ATM fees for foreign ATM transactions.

Victorian bushfires: Banks offer disaster relief packages and urge customers adversely affected to make contact

Sydney, 9 February, 2009: 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 Victoria.

Australian Bankers’ Association responds to report on Sons of Gwalia ruling

Sydney, 29 January, 2009: The Australian Bankers’ Association (ABA) said it was disappointed with the report from the Corporations and Markets Advisory Committee (CAMAC) which has not recommended action to overturn the High Court decision in the Sons of Gwalia case .

Australian Bankers’ Association responds to COSBOA

Sydney, 21 January, 2009: The Australian Bankers’ Association (ABA) is responding to yesterday’s claim from the Council of Small Business of Australia (COSBOA) that the banking industry is creating unemployment due to interest rate policies.