First up before the Royal Commission on Monday will be the chief executive of the Commonwealth Bank. The era of the big four banks might be ending.
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Revelations by whistleblower organisation Wikileaks of secret global negotiations to further deregulate global financial services, has led to speculation that such pact could signal the end of Australia’s…
The big four banks, ANZ, CommBank, NAB and Westpac, are not legally prevented from merging, but the four pillars policy has stood in the way.
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Australia’s four pillars policy is widely misunderstood. At heart, it is an anti-bank policy, one which prohibits the large banks from doing what they might like to do and that is to merge. It stops them…