Banks and banking

Discussion paper

PostBank: filling a void, securing essential services

This discussion paper makes the case for the creation of a public bank in Australia by providing Australia Post with an Authorised Deposit-taking Institution (ADI) licence, and moving in time to establishing 'PostBank' as a full national savings and loan bank.
Working paper

Design choices for central bank digital currency: policy and technical considerations

This paper investigates and explains the design choices, mainly technical, but also financial and legal, that central banks will unavoidably encounter in their exploration of central bank digital currencies (CBDCs). Contributing authors include experts in computer science, economics and law, whose research and practical experience...
Fact sheet

Fact Check: Is the new bank levy similar to levies common right around the developed world, Europe in particular?

In the 2017 federal budget, the Government announced a levy on Australia's big banks, estimated to raise $6.2 billion over four years. Such levies, the Government claims, are common among developed countries.
Fact sheet

Fact Check: Is Pauline Hanson correct about a difference between a bank levy and bank tax?

The controversial bank levy is tax deductible: the banks will be able to claim the amount of bank levy paid as a business expense, which will reduce the amount of corporate tax they have to pay on their profits.

Justice tempered

This report finds that the Australian finance sector’s concentration on profits at all costs compromises the ethical integrity of workers in the industry. The report argues that while the Banking Royal Commission uncovered widespread misconduct in Australia’s banking and financial services sector, it failed to...

Home loan price inquiry: interim report

This interim report shows that the big four banks considered various factors as they decided whether to pass on the RBA’s June, July and October 2019 rate cuts. But recovering profits was central to their decisions to not always fully pass through the lower rates...

ACCC/OAIC compliance and enforcement policy for the Consumer Data Right

The purpose of this policy is to help consumers and Consumer Data Right (CDR) participants understand the approach that the ACCC and the OAIC will adopt to encourage compliance with CDR Rules, legislation (including Privacy Safeguards) and Consumer Data Standards. The policy also sets out...

Impact of COVID-19 on the global financial system

This briefing is the outcome of several multi-stakeholder dialogues organised by the World Economic Forum’s 'Platform for Shaping the Future of Financial and Monetary Systems.' This briefing summarises the key findings of these discussions, providing insight into financial market trends, private-sector views of government responses...
Working paper

Can this time be different? Policy options in times of rising debt

Episodes of debt accumulation have been a recurrent feature of the global economy over the past fifty years. This paper examines the factors that are likely to determine the outcome of the most recent debt wave, and considers policy options to help reduce the likelihood...

Review of whistleblowing protections by Australian banks

The Australian Bankers’ Association (ABA) engaged Promontory Australasia to assist in strengthening the standards of whistleblower protections across the banking industry. Promontory did not conduct a formal survey of practices in international banks. We also did not assess whistleblower practices in all Australian banks, or...