The federal government has announced a royal commission into banks and other financial services entities.
Even though the Prime Minister and heads of the big four banks argue costly political uncertainty is the reason for the royal commission, experts argue the banks' behaviour itself is the real cost.
When did ASIC’s Greg Medcraft learn about the alleged money laundering at the Commonwealth Bank?
Parliamentary hearings reveal a lot of confusion between government, regulators and industry around banking regulation. This needs to be fixed.
APRA chair Wayne Byres says the regulator is unlikely to use its new enforcement powers.
While the government hopes its new regulation will rein in the banks, it's unlikely to do so.
The new ASIC chairman, James Shipton, should be in charge of enforcing banking conduct.
The new banking regulations undermine the existing system, confusing regulators and achieving very little.
There are signs our frothy housing market, combined with rising interest rates, could have serious consequences for our economy.
Fully half of Westpac's loan book consists of interest-only loans, so why are the banks not more concerned about what could happen next?
APRA’s independent inquiry panel member, John Laker, who is also chairman of the Banking Finance Oath initiative, will be one of the ones holding the CBA to account.
One scandal at the CBA stands out above all others, It set the scene for how the CBA board would handle future scandals, that is to obfuscate, prevaricate and litigate.
In the case of CommInsure, the treatment of the Chief Medical Officer, Benjamin Koh, seemed designed to send a message to other bank staff – keep your head down, or else!
Without clear support for whistleblowers in the terms of reference for the inquiry into CBA’s corporate governance, the conclusions will inevitably be tainted.
APRA chairman Wayne Byers.
If APRA cannot evaluate a bank’s governance, who can?
There has been a long litany of scandals where CBA has been part of the cast, like the heroine of the old movies.
APRA announced it will open its new season with an inquiry into the Commonwealth Bank of Australia. But the opening of this new show raises some questions for the producers.
APRA chairman Wayne Byres says the inquiry will provide the CBA with change recommendations.
The APRA inquiry puts the regulator in the tricky position of trying to be seen to be tough on bank scandals but juggling its close relationship with the government and the CBA.
Unlike shareholders, super fund members won’t have the same powers at AGMs to hold executives to account.
Many of us barely glance at our own superannuation account balances, so it’s reasonable to predict that only a tiny fraction are likely to go to a super fund annual meeting.
Pay packets rose just 0.5% in the first quarter.
The government's best ideas for how to grow wages and incomes do not inspire confidence.
At least ten cents in every dollar of superannuation assets is indirectly financing house purchases via commercial bank debt.
What critics of the plan to use superannuation for housing miss is that Australia’s super system already channels a significant proportion of retirement savings into housing.
APRA chairman Wayne Byres is leading a crackdown on interest-only loans, but it may not be enough to cool some parts of the housing market.
Negative gearing plus inadequate supply plus low wage growth equals financial distress.
APRA and its chairman Wayne Bryes may be more prescriptive on lending rules in an attempt to curb rising house prices.
The government's unwillingness to consider changing the tax system to fix housing affordability, makes it more likely that APRA may have to become even more prescriptive with its lending criteria.
Australian banks’ capital levels must be ‘unquestionably strong’, according to the Financial Systems Inquiry.
Some argue, determinedly and erroneously, that when functioning correctly bank capital levels are almost magical things.
With investor lending taking off again, the regulator could impose tighter constraints on bank lending.
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Investor loans are on the increase again, causing pause for the regulators.
Home owners will bear the brunt of the new lending restrictions from APRA when it’s lenders who should be penalised.
APRA has updated its guidance to lenders on concerns about the risks to financial stability from the housing market, but it should be focusing more on the banks, not hurting those with a mortgage.
Mortgage tracker rates follow the cash rate.
Business Briefing: rate tracker mortgages.
The Conversation 16.3 MB (download)
Rate tracker mortgages could provide some certainty for customers and increase trust in the banking sector.
The Australian Prudential Regulation should be put up for a capability review.
Just when we all thought that the Australian Securities and Investments Commission (ASIC) had already won the race to be most ineffective regulator of the year, up pops the Australian Prudential Regulation…