Automated Decision Making and AI Regulation
20 May 2022
Australian banks are using new technologies to increase efficiency and to provide new and more responsive services to customers. We propose the government focus on: simplifying or rationalising existing legislation that impact on the use of AI and ADM, in preference to new specific AI regulations; any regulatory intervention including setting best practice guidance should build on existing best practices and harmonise with sector specific regulation; and review and amend legislation to be neutral as to whether a human or technology is used to make decisions or conduct a process.
Download PDFStatutory Review of the Consumer Data Right
20 May 2022
The ABA makes a number of recommendations to improve the rollout of the Consumer Data Right, including prioritising changes that benefit consumers the most, simplify and streamline regulatory requirements and prioritise broader payments reforms before rolling out write-access.
Download PDFMandating eConveyancing in Queensland
5 May 2022
The Australian Banking Association continues to support efforts to accelerate the adoption of electronic mortgages and settlement for the convenience of consumers and the associated economic benefits. The banking industry is supportive of mandating electronic conveyancing in Queensland, which is a pragmatic and natural development from the current regime. Mandating e-conveyancing in Queensland will create greater certainty for consumers and drive greater efficiencies.
Download PDFABA Letter on PPG (110, 112, 113)
30 April 2022
To assist APRA finalise the prudential practice guides (APG 110, APG 112 and APG 113), industry provides the attached feedback in response to: 1) the materials presented to the industry in the APRA-ABA workshop on 8 April; and 2) the subsequent queries to industry on 19 April.
Download PDFARNECC: Independent Health Checks and Readiness Assessments of the Interoperability Reform
21 April 2022
The ABA is supportive of implementing ongoing and independent health checks, to review the risks to and status of the national roll-out of interoperability. The banking industry is also supportive of the proposed three phase approach.
Download PDFBasel III liquidity ratios: post-implementation review
14 April 2022
The Australian Banking Association welcomes the opportunity to respond to the Australian Prudential Regulation Authority’s discussion paper, Post-implementation Review of the Basel III Liquidity Ratios in Australia, which focuses on the Liquidity Coverage Ratio (LCR) and the Net Stable Funding Ratio (NSFR). The LCR and NSFR were and remain important elements of the Basel III Liquidity reforms. Overall, these liquidity measures have achieved their objectives of promoting short-term and long-term resilience of banks’ liquidity and funding profiles and are supported by the banking industry.
Download PDFExtension of the Consumer Data Right to non-bank lending
14 April 2022
Response to Treasury's consultation on the extension of the Consumer Data Right to non-bank lending. In this submission, the ABA responds to some issues raised in the discussion paper and provides comment based on the experience of banks in implementing the CDR.
Download PDFClimate Change Authority International Offsets
14 April 2022
The ABA encourages continuous improvement in the operating features of carbon markets to improve integrity and trust and to build scale and liquidity.
Download PDFFarm Debt Mediation (QLD)
25 March 2022
Farm Debt Mediation (FDM) is widely acknowledged as a successful way for the farmer and the financier to resolve matters relating to farm business debts and, in many cases, is a preferred alternative to court. Most importantly, the FDM process provides an additional avenue for farmers in financial difficulty to either re-establish and maintain their viability or exit the industry with dignity. The ABA welcomes the review’s consideration of opportunities to enhance the Act and align with legislation in other states where possible.
Download PDFAPRA: Capital Framework Revisions Draft Guidance
14 March 2022
The ABA continues to support a revised capital framework that strengthens the financial resilience of the industry, embeds the industry’s unquestionably strong level of capital and provides for greater flexibility in periods of stress. ABA member banks are actively working towards the implementation of APRA’s revised capital framework. Considerable work still remains in both defining and implementing the framework based on the practice guides issued as well as implementing related changes to regulatory reporting, modifications to Pillar 3 and international comparability studies, and updates to related standards.
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