Australia

Capital / Liquidity

RBNZ Sets Risk Weight for BGF Investments at 250pc

By Editors | 24/04/2023

A 250% risk weight will be introduced for bank investments in the Business Growth Fund, a new fund being introduced to improve SME access to finance.

AML / KYC

Australia to Establish SMS Sender ID Registry

By Editors | 24/04/2023

The move will add a “new layer of protection” for Australian consumers against scammers using these known brands to target and deceive.

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.

ESG / Sustainability

Australia to Introduce Green Financing Programme in 2024

By ESG Investor | 23/04/2023

Sovereign Green Bonds programme to attract green capital to Australia through increasing transparency around climate outcomes and availability of green investments.

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.

AML / KYC

Australia Opens Consultation on ‘Tranche 2’ AML Reforms

By Sanday Chongo Kabange | 21/04/2023

The proposed reforms will extend the AML/CTF regime to lawyers, accountants, trust and company service providers, real estate agents, and dealers in precious metals and stones.

ACCC Defers Decision on ANZ-Suncorp Merger to End-July

By Editors | 20/04/2023

The timeframe can be extended if applicants agree. ANZ agreed to an ACCC request to extend the review period from 12 June to 28 July.

AML / KYC

ASIC Calls on Banks to Reconsider Approach to Scams

By Editors | 20/04/2023

Only 13 percent of scam payments made by customers were detected and stopped by the big four banks. Customers were “overwhelmingly” the bearer of scam losses.

Crypto / Digital Assets

Australia Considers Outright Ban on Ransom Payments

By Mark Johnston | 19/04/2023

The ACSC recommends that victims of ransomware attacks never pay a ransom. The government is considering a law prohibiting attack victims from paying ransoms.