If big money is going to invest in clean energy and technology, the rules have to be clear. Australia’s launch of a green finance strategy last week was a good start but there is further to go.
Academic rigour, journalistic flair
Articles on APRA
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The new rules limiting what banks can lend are aimed at real estate investors. APRA believes they’ll have little impact on first home buyers.
One in every six MySuper funds failed the test. One million members will be invited to leave, and it’ll be made easy.
Nothing, not even advertising will be permitted unless it is in the ‘best financial interests’ of members.
The National Consumer Credit Protection Amendment bill goes against two explicit recommendations of the banking royal commission.
If anything, the standards are becoming easier, rather than harder, to apply.
It’ll be up to the borrower, not the lender to determine whether what’s offered is suitable under changes to be detailed in the budget.
Westpac and the ANZ have suspended dividends payments. The National Australia Bank has slashed them. The peculiarities of our tax system explain why retirees hate this more than they should.
APRA is allowing the big four banks to coordinate in a way that might otherwise be illegal.
The Reserve Bank has scheduled an announcement for Thursday. The government will unveil a second coronavirus stimulus package within days.
“Balanced scorecards”, of the kind countenanced by the Australian Prudential Regulation Authority, are inherently unbalanced.
Combined, APRA and the Reserve Bank are about to give households on $150,000 up to $120,000 more borrowing power.
Under cover of a speech from the Reserve Bank governor, the Prudential Regulation Authority has moved to make it 10% easier to borrow.
The government has agreed to create an independently-chaired body to report on the performance of ASIC and APRA, but it hasn’t said its reports will be made public.
Getting better behaved banks isn’t difficult. Here are three places to start.
Flaws in the ABC Act set up conflict and allow the government to pressure it.
In choosing not to impose restrictions on bonuses and commissions, the government left untouched the incentives for inappropriate financial advice and lending decisions.
A whole bunch of folks are on the wire, and if their housing payments go up they are going to struggle.
All eyes will be on how ASIC and APRA respond to the findings of the banking royal commission. Will they be defensive about past mistakes, or move forward with tighter regulations?
The Commonwealth Bank has been given responsibility to fix its own management mess. Regulators could have done a lot more.
Top contributors
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Visiting Fellow, Macquarie University Applied Finance Centre, Macquarie University
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Professor of Economics, UNSW Sydney
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Senior Lecturer, Faculty of Law, University of Wollongong
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Vice Chancellor's Fellow at Victoria University and Adjunct Professor of Economics, Victoria University
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Emeritus Professor of Finance, The University of Melbourne
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Professor - Risk governance, culture, remuneration, Macquarie University
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Associate Professor in Banking and Finance, The University of Queensland
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Professor of Law, The University of Western Australia
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Senior Lecturer, Adelaide Law School, University of Adelaide
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Industry Professor, University of Technology Sydney
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Associate Professor in Finance, University of Sydney
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Senior lecturer, Queensland University of Technology
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Industry Fellow, Corporate Governance & Senior Lecturer, Swinburne Law School, Swinburne University of Technology
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Lecturer in Corporations Law and Regulation of Corporate Misconduct, The University of Queensland
