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The Australian Bankers’ Association’s role
The ABA works with its members to provide analysis, advice and advocacy and contributes to the development of public policy on banking and other financial services. The ABA works to ensure the banking system can continue to deliver the benefits of competition to Australian banking customers.
The ABA works to ensure that the banking industry views are put forward when governments determine policy or legislation. Many areas of Commonwealth and State law and in some cases international law, impact upon the commercial interests of Australian banks. The Australian Competition and Consumer Commission (ACCC), the Australian Securities and Investments Commission (ASIC), the Australian Prudential Regulation Authority (APRA) and the Reserve Bank of Australia (RBA) regulate banks. Many areas of law, for example taxation or financial sector reform, affect the trading environment for Australian banks and the ABA consults its members to form industry position on many issues
With the active participation of the member banks, the ABA works to foster an environment in which financial services are valued and can prosper. In communicating the industry’s views, the ABA works with Commonwealth and State and Territory Governments, the regulators, other industry associations, the community, community groups and the media.
The ABA is led by Steven Münchenberg, Chief Executive Officer who is supported by a team of senior public policy staff. He was appointed the CEO of the ABA in 2010 and plays a crucial role in fulfilling the ABA’s responsibility to improve public awareness and understanding of the industry’s contribution to the community, with a strong emphasis on consultation with stakeholders.
The ABA is governed by a Council which comprises Chief Executive Officers of member banks.
There are 15 members of the ABA Council. The Council is led by the Chairman, Ralph Norris, the Managing Director and Chief Executive Officer, Commonwealth Bank, and the Deputy Chairman, David Liddy, the Chief Executive Officer of Bank of Queensland. The ABA’s Council provides guidance and leadership to the ABA on policy issues which affect the banking and financial sector. ABA Council members:
| AMP Bank Limited |
Michael Lawrence |
| ANZ Banking Group Limited |
Michael Smith |
| Australian Bankers’ Association |
Steven Münchenberg |
| Bank of Cyprus Australia Pty Ltd |
George Tacticos |
| Bank of Queensland Limited |
David Liddy |
| Bendigo and Adelaide Bank Limited |
Mike Hirst |
| Citigroup Pty Ltd |
Stephen Roberts |
| Commonwealth Bank of Australia |
Ralph Norris |
| HSBC Bank Australia Limited |
Paulo Maia |
| ING Bank (Australia) Limited |
Don Koch |
| Investec Bank (Australia) Limited |
David Clarke |
| National Australia Bank Limited |
Cameron Clyne |
| Rabobank Australia Limited |
Thos Gieskes |
| Suncorp-Metway Limited |
David Foster |
| Westpac Banking Corporation |
Gail Kelly |
|  | The ABA is an incorporated association under the provisions of the NSW Associations Incorporation Act 1984.
There is a large range of public policy issues being addressed by the ABA, but generally the association is working to help build a regulatory environment that promotes growth in the banking industry and the wider economy.
Key elements of work include:
- Development of Industry Codes and Standards
Continuing development of the Code of Banking Practice and a number of other standards which ensure best practice across the banking industry on issues such as access to electronic banking, electronic transactions and security.
- Prudential and Payments System reform
Cooperating with Government to ensure implementation of the recommendations of the Wallis Inquiry to create a safe financial system which is competitive and offers new entrants an even playing field.
- Conduct and disclosure
Cooperating with the Government to ensure that changes to law do not disadvantage, but deliver benefits to bank customers – retail and business - such as legislation related to the banking industry conduct and disclosure.
- Financial Literacy
The ABA is committed to the national goal of improving Australians’ financial literacy through our program, called Broadening Financial Understanding. With our contribution, we aim to help Australians make informed and confident decisions regarding their own finances.
- Retirement Incomes Policy
Maximising opportunities for bank customers to have choice and portability of superannuation funds, simplify the system and create a fairer taxation regime.
- Rural and Regional
Coordinating the banking industry’s response on issues related to rural and regional Australia and in particular water reform.
- Security
Chairing the Fraud Taskforce which brought together banks, government sector representatives, private sector, police and card schemes to look at ways of preventing this criminal behaviour.
- Taxation reform
Negotiating for banks and the wider business community the best possible outcomes from the Government’s review of business taxation.
History of the ABA
The Australian Bankers’ Association traces its history back to the late 1940s when a national organisation was formed to oppose a Government proposal to nationalise the banking system. Since then, it has taken on many roles and responsibilities on behalf of its membership, but the modern organisation reflects major restructures that occurred in 1985 and 1997. In the mid 1980s, it was decided that the ABA’s role was too limited and that it would be broadened in favour of having a fully representative organisation of all licensed banks in Australia. Three existing organisations were merged to form the “new” Association. Those organisations were the Australian Bankers’ Association-Research Directorate, which was based in Sydney, and the Australian Bankers' Association and a Banking Education Service, both based in Melbourne. A couple of years later, the Banks’ Industrial Association was also integrated into the ABA.
A new constitution was drafted in 1985 to reflect a move towards an organisation which represented the views of members to government, discussed policy issues, looked at matters that might increase the efficiency of the industry, conducted industrial relations and public relations. In 1997, there were further changes to the mission of the ABA to focus the association on its principal benefits to members, that is, an advocate for the banking industry when dealing with Governments, the media and public.
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