Banks

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Stay or go - Britons will vote this week. Reuters/Hannibal Hanschke

How a Brexit could impact on Australia

A British exit from the European Union will mean short term volatility on global markets, but the longer term outcomes are more uncertain.
Westpac is one of the banks where ASIC alleges traders rigged the bank bill swap rate. Mick Tsikas/AAP

Business Briefing: manipulating the BBSW

Business Briefing: the bank bill swap rate.
As more details are revealed in the bank bill swap rate rigging case we explain what the rate does, how it can be manipulated and what the government should be doing about it.
Scott Morrison told a joint news conference with Assistant Treasurer Kelly O'Dwyer that the banks would pay an additional $121 million to increase the resources of ASIC. Lukas Coch/AAP

Morrison warns banks not to pass on new ‘user-pays’ impost to finance ASIC reform

Scott Morrison has warned the banks not to pass on to customers the $120 million user-pays charge imposed on them to finance a strengthened Australian Securities and Investments Commission.
ASIC chairman Greg Medcraft says the regulator ‘can’t look over everyone’s shoulder’. Dan Himbrechts/AAP

Banking royal commission should be paid for by banks

Banks have had notice of these issues and failed to resolve them - it seems only fair that they should have to pay.
Opposition leader Bill Shorten says public confidence in the banking sector has taken ‘hit after hit’ in recent years. Tracey Nearmy/AAP

Labor pledges royal commission into bank behaviour

Bill Shorten has promised a Labor government would set up a royal commission into misconduct in the banking and financial services industry.

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