Reserve Bank of Australia

    Market Infrastructure

    CHESS Replacement ‘Critical’ to Manage Systemic Risk: RBA

    By Editors | 01/10/2020

    Replacing CHESS with more modern technology is critical to ASX’s ongoing management of systemic risk, said RBA assistant governor Michele Bullock.

    Capital / Liquidity

    APRA to Amend Liquidity Rules for Banks – Report

    By Editors | 08/09/2020

    The changes will require banks to decrease their holdings of private sector liquid assets in favour of buying more government debt.

    Capital / Liquidity

    RBA Expands Low-cost Term Lending Facility for Banks

    By Editors | 02/09/2020

    The expansion brings the total available funding under the term lending facility to about A$200 billion, said RBA governor Philip Lowe.

    Market Infrastructure

    Westpac to ‘Proactively’ Switch Merchants to Least Cost Routing

    By Editors | 06/08/2020

    The RBA has signalled it was considering taking regulatory action to force banks to move faster in moving merchants from Mastercard and Visa to lower cost networks.

    Enforcement

    ASIC to Seek Reforms to Responsible Lending Laws

    By Manesh Samtani | 22/07/2020

    ASIC has decided not to appeal the dismissal of its responsible lending case against Westpac; instead it will review its existing guidance and recommend legislative reforms.

    Australia: Banks Fail to Pass Rate Cuts to Credit Card Customers

    By Editors | 10/06/2020

    The credit cards with the largest rate increases are those backed by Citigroup, Members Equity Bank, Police Credit Union, and ANZ, according to consumer advocacy group CHOICE.

    Market Infrastructure

    Australia Considers Consolidation of Payment Infrastructures

    By Editors | 08/06/2020

    An industry committee has been set up to explore the benefits of a consolidating the NPP, BPAY and eftpos – […]

    Market Infrastructure

    Australia to Further Tighten Foreign Investment Approval Process

    By Manesh Samtani | 07/06/2020

    Under the new regime, a new “last resort power” will allow the Treasurer to force divestment on national security grounds even after approval is granted.

    Market Infrastructure

    RBA Invites Tenders for Transaction Processing and Settlement System

    By Editors | 26/05/2020

    The new system should be able to process SWIFT FIN messaging under ISO 20022 as well as the existing SWIFT MT throughout a three-year coexistence period.

    Capital / Liquidity

    ‘Now is the Time’ for Banks to Use Buffers: APRA, RBA

    By Manesh Samtani | 21/05/2020

    APRA’s Wayne Byres and the RBA’s Philip Lowe said buffers were built up to be used in times of stress, and lower capital ratios are both expected and appropriate.

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