Reserve Bank of Australia

ACCC Issues Paper Seeks View on Banks’ Rate-setting Practices

By Editors | 24/04/2023

ACCC chair says the inquiry will closely examine how banks make decisions on interest rates and any barriers consumers face in getting a better deal.

Market Infrastructure

RBA to Undergo Overhaul Following Comprehensive Review

By Editors | 21/04/2023

The review report suggests splitting the RBA’s board into a monetary board and a corporate governance board.

Crypto / Digital Assets

ANZ Completes First Use Case Test for CBDC Pilot

By Editors | 10/04/2023

ANZ tokenised ACCUs that were purchased by Grollo Carbon Ventures. Settlement occurred using ANZ’s stablecoin, which was backed by pilot CBDC.

AML / KYC

AUSTRAC Provides AML/CTF Exemption for CBDC Pilot

By Sanday Chongo Kabange | 07/04/2023

The exemption applies to CBDC issuance, redemption, exchange, custody, storage, transfer, account opening and other areas for the RBA, pilot participants and customers.

Crypto / Digital Assets

RBA Selects Use Cases to be Tested in Live CBDC Pilot

By Manesh Samtani | 03/03/2023

ANZ is involved in four case proposals; CBA is involved in two. Mastercard and Cuscal propose to use CBDC to enable consumers to buy NFTs.

Market Infrastructure

ASIC Directs ASX to Produce ‘Special Reports’ on CHESS System

By Sanday Chongo Kabange | 23/02/2023

The reports will help ensure ASX is adequately addressing findings from an external review, and whether any further regulatory action is warranted.

ACCC Launches Inquiry into Bank Rate-Setting Practices

By Editors | 16/02/2023

The ACCC said banks have in most cases “fully passed” through interest rate hikes to their home loan rates, but less so to interest rates on deposit products.

Crypto / Digital Assets

NAB to Launch AUD Stablecoin Around Mid Year

By Manesh Samtani | 20/01/2023

NAB plans allow clients to use the stablecoin for repo transactions, cross-border remittances, and carbon credits trading.

ACCC to Scrutinise Interest Rates Offered on Savings Accounts

By Editors | 12/01/2023

Treasurer Jim Chalmers fears savings rates do not fully reflect changes to the cash rate, which has recently risen for an eighth consecutive month to 3.1 percent.