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Articles on Banks

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Australian banks improved their efficiency after the introduction in 2003 of the ASX Principles of Good Corporate Governance, which aimed for improved governance mechanisms and thus better control over bank management. AAP Image/Paul Miller

Good corporate governance is good for banks’ bottom line

Good corporate governance is good for efficiency and profit in banks. But having independent board members and the number of board meetings don't play a role, research shows.
Malcolm Turnbull’s plan to bring bank executives before a parliamentary committee at least annually has been seen as little more than token. Mick Tsikas/AAP

The banking story has a way to run for Malcolm Turnbull

Malcolm Turnbull’s resistance to a royal commission into banks is flouting public opinion and will test his own backbenchers, who have their fingers on the electoral pulse on this hot-button issue. An…
One has to ask what the banks fear. Are there further pockets of wrongdoing yet to emerge? No, they say. AAP/Paul Miller

Turnbull inquiry-lite bank plan falls short

Malcolm Turnbull’s plan to have the chiefs of the big banks regularly front a parliamentary committee is more gesture than substance. What it tells us is that Turnbull is very sensitive to the strong public…
After the Reserve Bank cut the cash rate by 25 basis points to 1.5%, the four big banks said they would pass on only part of the reduction. Paul Miller/AAP

Turnbull to banks: pass on whole interest rate cut

Malcolm Turnbull has sternly told the banks they should pass on the whole of Tuesday's rate cut - or their chief executives must explain why they are not doing so.
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.

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