2010

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2010

Australian Bankers' Association comments on banking reform package

Sydney, 12 December, 2010: The Australian Bankers’ Association (ABA) said Australia continues to benefit from our stable and competitive banking system, one of the key reasons why Australia weathered the global financial crisis.

Australian Bankers’ Association’s analysis of APCA payment fraud data

Sydney, 7 December, 2010: The Australian Bankers’ Association (ABA) says there has been another fall in the credit card fraud loss rate, indicating that industry efforts to prevent this criminal activity are continuing to take effect.

Banks offer disaster relief packages to those affected by NSW and Qld floods

Sydney, 7 December, 2010: The Australian Bankers’ Association (ABA) said banks have offered emergency relief packages to assist people affected by the floods in NSW and Queensland.

Financial services markets are competitive

Sydney, 3 December, 2010: The Australian Bankers’ Association (ABA) said the evidence shows there is competition in banking, including in key financial product markets which are relevant to households and small businesses.

Joint media release Online safety should never take a holiday

3 Dec 2010: Shopping online, especially for products from the United States, has never been more attractive in the lead up to Christmas as consumers seek out bargains due to the strong Australian dollar.

Scam warning: bogus phone survey

Sydney, 1 December, 2010: The Australian Bankers’ Association (ABA) is warning of a telephone survey scam which is using an organisation’s name similar to the ABA’s in an attempt to defraud bank customers.

Caution needed on Greens’ Banking Bill

Sydney, 24 November, 2010: The Australian Bankers’ Association (ABA) said caution is needed before proceeding with the Greens’ Bill on banking because it could result in poor outcomes for customers, particularly in rural and regional areas.

Innocent behaviour at risk in ‘price signalling’ Bill

Sydney, 22 November, 2010: The Australian Bankers’ Association (ABA) cautioned today against rushing through the private member’s Bill on ‘price signalling’ as it could have unintended consequences if not carefully considered, including having the result that customers, investors and analysts would end up being uninformed or misinformed.

Media reports wrong - Banks’ margins have not increased

Sydney, 17 November, 2010: The Australian Bankers’ Association (ABA) said the media reports claiming that bank margins have increased are incorrect.

Cost of funds increasing for banks - Reserve Bank Board’s Monetary Policy Meeting Minutes

Sydney, 16 November, 2010: The Australian Bankers’ Association (ABA) said today’s minutes from the Reserve Bank Board’s Monetary Policy meeting confirm that the cost of banks’ funding has increased beyond the official cash rate.

Claims of bank rule exemption at G-20 are wrong

Sydney, 13 November, 2010: The Australian Bankers’ Association (ABA) said that media reports claiming that Australia’s banks have won an exemption from tough new international rules are incorrect.

Australian Bankers’ Association comments on ASIC mortgage exit fee guidance

Sydney, 10 November, 2010: The Australian Bankers’ Association (ABA) expects that banks will need to review all their mortgage exit fees on existing and new mortgages following this afternoon’s release of the Australian Securities and Investments Commission’s (ASIC) guidance.

Bank branches – nine years of growth

Sydney, 10 November, 2010: The number of bank branches has increased for the ninth consecutive year, according to a survey released today by the Australian Prudential Regulation Authority (APRA).

Federal Opposition claims false and misleading

Sydney, 9 November, 2010: The Australian Bankers’ Association (ABA) today called on the Federal Coalition to base any criticisms of banks on facts, not false and misleading statements.

Banking debate needs facts not rhetoric

Sydney, 4 November, 2010: The Australian Bankers’ Association (ABA) said the current debate about banking is long on rhetoric but short on facts.

Reporting season - facts on banks’ profits

Sydney, 3 November, 2010: The Australian Bankers’ Association (ABA) says now that the bank reporting period is coming to an end, it is important that all bank customers, shareholders and the wider community are aware of some important facts about banks’ profits.

False – banks making record profits

Sydney, 28 October, 2010: The Australian Bankers’ Association (ABA) said the claim that banks are making record profits due to reduced competition is false.

ABA comments on call for inquiry into banking competition

Sydney, 27 October, 2010: The Australian Bankers’ Association (ABA) said it would participate in any inquiry into competition in the banking and financial services sector.

Shadow Treasurer’s clarification on banking proposals

Sydney, 25 October, 2010: The Australian Bankers’ Association (ABA) said the industry welcomes clarification of the Shadow Treasurer’s comments on bank regulation but remains concerned with the direction of the Coalition’s proposals.

Banks and ‘price signalling’

Sydney, 22 October, 2010: The Australian Bankers’ Association (ABA) said the call for additional Australian Competition and Consumer Commission (ACCC) powers to curb what it describes as bank ‘price signalling’ will potentially, if adopted, result in a one-sided public debate on banks’ funding costs.

Federal Opposition’s Interest Rate Policy is Dangerous

Sydney, 21 October, 2010: The Australian Bankers’ Association (ABA) said that since the Global Financial Crisis (GFC) commenced in August 2007, Coalition economic spokespeople have consistently demanded that the banks not increase interest rates above the Reserve Bank’s cash rate.

Banks reassure farmers about Murray-Darling Basin Guide proposals

Sydney, 14 October, 2010: There is no change to the way banks are dealing with their customers – farmers, businesses and individuals – in the Murray- Darling Basin.

Free publication on credit provides helpful consumer information

Sydney, 13 October, 2010: Information on how to choose a credit product which suits your needs and how to manage it successfully is available from the Australian Bankers’ Association’s (ABA) new updated free publication – ‘Smarter Banking: Make Credit Work for You’.

Reserve Bank’s cash rate does not set mortgage interest rates

Sydney, 1 October, 2010: The Australian Bankers’ Association (ABA) said that while the Reserve Bank would meet next week to consider the official cash rate, it was important to remember that the cash rate was only one consideration in determining the cost of money lent by banks to home owners and businesses.

Banks offer disaster relief packages to those affected by Victorian floods

Sydney, 7 September, 2010: The Australian Bankers’ Association (ABA) said banks have offered disaster relief packages to assist people affected by the floods in north-eastern and central Victoria.

Third progress report on Process to Update the Code of Banking Practice

Sydney, 27 August, 2010: The Australian Bankers’ Association (ABA) is working on producing an updated Code of Banking Practice following a review of the current Code.

Scam warning: bogus phone survey

Sydney, 17 August, 2010: The Australian Bankers’ Association (ABA) is warning of a telephone survey scam which is using the ABA’s name in an attempt to de-fraud bank customers.

Australian Bankers’ Association comments on ALP credit card policy proposal

Sydney, 15 August, 2010: The Australian Bankers’ Association (ABA) does not believe that there is a sound argument for credit card limit offers to be banned by government regulation.

Beware of class action telephone scams

Sydney, 13 July, 2010: The Australian Bankers’ Association (ABA) is warning of fraudsters telephoning bank customers and claiming they are entitled to exception fee refunds as part of the proposed fees class action against banks.

Coalition policy on small business creates lending uncertainty for banks

Sydney, 8 July 2010: The Australian Bankers’ Association (ABA) said the Coalition’s proposal to extend unfair contracts terms protections to small businesses could increase the risks banks face when lending to small businesses and could therefore be counter-productive.

Australians minimising fees to access cash

Sydney, 8 July, 2010: The Australian Bankers’ Association’s (ABA) analysis of payments data demonstrate that customers are minimising bank fees when accessing cash.

Australian Bankers’ Association welcomes TOFA announcement

Sydney, 29 June, 2010: The Australian Bankers’ Association (ABA) has today welcomed the announcement by the Assistant Treasurer, Senator Nick Sherry, of refinements to the Taxation of Financial Arrangements (TOFA) regime.

Sensible decision at G-20 – no global bank tax

Sydney, 28 June, 2010: The Australian Bankers’ Association (ABA) is pleased that the G-20 leaders took a sensible approach to meeting the costs of government intervention in the financial system, and decided against a global bank tax.

Banks’ exit fees are appropriate and justifiable

Sydney, 27 June, 2010: The Australian Bankers’ Association (ABA) notes the Federal Government has instructed the regulator, the Australian Securities and Investments Commission (ASIC), to use its new powers to examine early mortgage exit fees.

Rudd wrong - banks are NOT gouging customers

Sydney, 11 June, 2010: The Australian Bankers’ Association (ABA) said the Prime Minister, Kevin Rudd, is wrong when he claims that banks are ‘gouging’ customers on fees.

Little change in cost of banking for households

Sydney, 10 June, 2010: A report released today from the Australian Bankers’ Association (ABA) showed the average fees paid for banking services by households were virtually unchanged from the previous year, despite customers using banking services more often.

Australian Bankers’ Association analysis of payment fraud data

Sydney, 7 June, 2010: The Australian Bankers’ Association (ABA) says there has been a fall in the credit card fraud loss rate, indicating that industry efforts to prevent this criminal activity are starting to take effect.

Stay safe online and protect your financial identity ABA supports National Cyber Security Awareness Week

Sydney, 6 June, 2010: The Australian Bankers’ Association (ABA) is supporting the Federal Government’s National Cyber Security Awareness Week designed to encourage Internet users to improve their online security.

Beware of two scams Warning from the Australian Bankers’ Association

Sydney, 3 June, 2010: The Australian Bankers’ Association (ABA) is warning of two scams which are using the ABA’s name in an attempt to de-fraud bank customers.

Second Progress Report on Implementation Process to Update the Code of Banking Practice

Sydney, 3 June, 2010: The Australian Bankers’ Association (ABA) is working on producing an updated Code of Banking Practice following a review of the current Code.

Media reports wrong on banks’ profits and loans

Sydney, 3 June, 2010: The Australian Bankers’ Association (ABA) said media reports claiming banks have used the global financial crisis to ‘gouge’ customers on loans are wrong.

Financial literacy – lessons learned Australian Bankers’ Association’s conference

Sydney, 2 June 2010: At the Australian Bankers’ Association’s (ABA) fourth conference on financial literacy, delegates will today hear about lessons learned from programs which work on improving access to money management programs and lifting levels of financial literacy in Australia.

Thin capitalisation rules – amendments welcome

Sydney, 26 May, 2010: The Australian Bankers’ Association (ABA) welcomes the introduction to the Parliament of the amendments to the thin capitalisation tax rules.

Taxation changes should be judged on their merits – not packaged

Sydney, 25 May, 2010: The Australian Bankers’ Association (ABA) says it is disappointed that the Federal Coalition is opposing the reduction in interest withholding tax and the tax break on deposits announced in the Budget.

Credit unions and building societies mislead consumers on home loan interest rates

Sydney, 21 May, 2010: The Australian Bankers’ Association (ABA) said research used by the organisation which represents credit unions and building societies – Abacus - is misleading for consumers.

ABA welcomes Government Response on Financial Services Centre Report

Sydney, 13 May, 2010: The Australian Bankers' Association (ABA) welcomes the Government’s response to the report on building Australia’s strengths as a Financial Services Centre.

Tax relief on savings – Budget 2010 The banking sector welcomes this and other important budget initiatives`

Sydney, 11 May, 2010: The Australian Bankers’ Association (ABA) said it welcomed the announcement in tonight’s Budget that tax relief would be provided to savers.

Media reports on banks’ profits are misleading

Sydney, 10 May, 2010: The Australian Bankers’ Association (ABA) said yesterday’s media reports claiming banks have used the global financial crisis to ‘gouge’ customers are misleading.

Tax reform welcomed by the banking sector

2 May, 2010: The Australian Bankers’ Association (ABA) welcomes the release of the Henry Tax Review Report and the Government’s response which has been announced in Canberra this afternoon.

Tax relief on deposits

Sydney, 27 April, 2010: The Australian Bankers’ Association (ABA) looks forward to confirmation of media speculation that the Henry Tax Review and the Government’s response will deliver tax relief on deposits and the elimination of withholding tax.

FSU should check its facts

Sydney, 23 April, 2010: The Australian Bankers’ Association (ABA) said the Finance Sector Union (FSU) should check its facts before it makes claims in media statements which misinform the community about the banking sector.

IMF levy and tax proposals – unwarranted for Australia’s solid banks

Sydney, 22 April, 2010: The Australian Bankers’ Association (ABA) said the International Monetary Fund (IMF) proposals recommending that financial institutions pay fees to cover the cost of any future bail outs could weaken our banking sector and slow Australia’s economic growth.

Australian Bankers’ Association comments on international proposals on capital and liquidity

Sydney, 21 April, 2010: The Australian Bankers’ Association (ABA) understands that Australian banks must be part of international regulatory reforms being proposed on capital and liquidity, but encourages the international standard setters to provide some scope for flexibility for national circumstances.

Greens proposed banking bill – extremely poor policy and not in the national interest

Sydney, 14 April, 2010: The Australian Bankers’ Association (ABA) said the Greens proposed banking bill is extremely poor policy and would end up having the opposite effect to what Senator Bob Brown is trying to achieve.

Joint media release Banks, law enforcement and retailers warn merchants to secure EFTPOS terminals to prevent skimming

13 April, 2010: The Australian Bankers’ Association (ABA), the Australian Crime Commission (ACC) and the Australian Retailers Association (ARA) are advising merchants to secure their EFTPOS terminals, to prevent criminals installing skimming devices to defraud customers.

Australia Institute and media reports wrong on bank fees

Sydney, 12 April, 2010: The Australian Bankers’ Association (ABA) said the information on bank fees provided by the Australia Institute and repeated in media reports is incorrect.

Banks competing for savers - high interest rates on offer

Sydney, 8 April, 2010: The Australian Bankers’ Association (ABA) said to claim that savers are not benefitting from interest rate rises on their deposits is wrong.

Banks’ prudent approach to small business lending

Sydney, 6 April, 2010: The Australian Bankers’ Association (ABA) said it continues to be vital to the long-term health of the Australian economy that banks apply risk-based pricing in relation to lending to small business.

Banks must lend responsibly - ABA responds to REIA

Sydney, 26 March, 2010: The Australian Bankers’ Association (ABA) said the Real Estate Institute of Australia (REIA) failed to understand that banks in Australia were able to continue lending throughout the global financial crisis in marked contrast to some banks overseas which collapsed or were nationalised by overseas Governments.

Lights out for Earth Hour – banks participating

Sydney, 24 March, 2010: The banking sector is supporting Earth Hour by switching off the lights in landmark offices on 27 March at 8.30pm for one hour.

Banks interest margins and funding costs

Sydney, 12 March, 2010: The Australian Bankers’ Association (ABA) said today’s debate over bank interest margins and bank funding costs is missing much needed balance and accuracy.

Queensland floods: Banks offer emergency relief packages and urge customers adversely affected to make contact

Sydney, 6 March, 2010: 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 floods in Queensland.

Australian Bankers’ Association says profitable banks underpin our strong economy

Sydney, 5 March, 2010: The Australian Bankers’ Association (ABA) said the Australia Institute report released yesterday is a disappointing interpretation of the important role that banks in Australia played during the global financial crisis.

Banks’ customer satisfaction reaches record levels

Sydney, 5 March, 2010: The Australian Bankers’ Association (ABA) analysis of the Roy Morgan Research data shows that customer satisfaction for banks has reached record levels at the start of 2010.

Greens policy on ATMs is short-sighted

Sydney, 3 March, 2010: The Australian Bankers’ Association (ABA) said the Greens short-sighted policy proposal on ATM fees means that 15 million bank customers may pay fees where typically none are paid now.

Shop around for a savings product which suits your needs

Sydney, 1 March, 2010: The Australian Bankers’ Association (ABA) notes the release of a report today by the Australian Securities and Investments Commission (ASIC) on its results of a review of term deposit accounts.

Fighting fraud online Australian Bankers Association supports Fraud Week

Sydney, 1 March, 2010: The Australian Bankers’ Association (ABA) is warning customers to beware of criminals who operate in cyberspace with the aim of scamming the public.

Banks support Victorian Police appeal to stop fraudsters

Sydney, 9 February, 2010: The Australian Bankers’ Association (ABA) supports today’s appeal by the Victorian Police for public assistance to catch three criminals who police say are using fake cards to steal money at ATMs.

Australian Bankers’ Association comments on withdrawal of wholesale funding guarantee

Sydney, 8 February, 2010: The Australian Bankers’ Association (ABA) said yesterday’s decision by the Federal Government to withdraw the wholesale funding guarantee was expected, but that there were different views on whether the funding withdrawal date, of 31 March 2010, gave all institutions time to adjust to the new market conditions.

Update on Code of Banking Practice - first quarterly report

Sydney, 29 January, 2010: The Australian Bankers’ Association (ABA) is providing its first quarterly report on the implementation process to update the Code of Banking Practice.

Australian Bankers’ Association welcomes E-conveyancing initiative

Sydney, 25 January, 2010: The Australian Bankers’ Association (ABA) has welcomed the announcement by the New South Wales Government that it is in partnership with the Victorian and Queensland Governments to establish National E-Conveyancing Development Ltd (NECDL) as a major step towards a national system of electronic conveyancing.

Australian Bankers' Association appoints new Chief Executive Officer

Sydney, 22 January, 2010: The Chairman of the Australian Bankers’ Association (ABA), Ralph Norris, today announced the appointment of Steven Münchenberg as the new Chief Executive Officer of the ABA.

Advice to bank customers regarding skimming crime

Sydney, 20 January, 2010: 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.

Banking industry welcomes proposals for flexibility under corporate insolvency laws

Sydney, 19 January, 2010: The Australian Bankers’ Association (ABA) has welcomed the consultation on the package of proposed reforms to Australia’s corporate insolvency laws.

Enhancing Australia as a Financial Centre

Sydney, 15 January 2010: The Australian Bankers' Association (ABA) welcomes the release today of the report of the Australian Financial Centre Forum (AFCF) - "Australia as a Financial Centre, Building on our Strengths" by The Hon. Chris Bowen MP, Minister for Human Services, Minister for Financial Services, Superannuation and Corporate Law.

Banks offer relief packages for customers adversely affected

Sydney, 8 January, 2010: 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 recent floods and the recent bushfires in different States and Territories across the country.