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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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