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Banking Summit

Australia’s top banking chiefs discuss high rates, the looming mortgage cliff, and how they plan to cut through the competition.




ACCC chairwoman Gina Cass-Gottlieb at The Australian Financial Review Banking Summit.

ACCC flags tougher enforcement on ‘open banking’

A report on the implementation of the consumer data right has called for banks to resolve “outstanding data quality incidents as a priority”. 

  • James Eyers
Square is fighting a short seller attack.

Block’s under fire Cash App will still come to Australia

The Afterpay owner said comments made by CFO Amrita Ahuja that Cash App would arrive in Australia hold true as it defends against a short seller attack.

  • James Eyers

ANZ getting calls from Asian depositors

With Credit Suisse’s private bank closing and SVB’s collapse, there are plenty of deposits looking for a home in Asia.

  • Ayesha de Kretser

The three rules that made Australia’s banks the strongest in the world

Lenders are on edge as the market searches for weak spots after the collapse of Silicon Valley Bank. But Australian banks have taken their medicine.

  • James Eyers

Why ‘uneconomic’ mortgages are forcing a rethink at the big banks

Competition has pushed returns on mortgages for the big banks below their cost of capital. Senior bankers face some tough strategic choices.

  • James Thomson



BNPL providers promise to strengthen code of conduct

A review commissioned by the sector and undertaken by ex-ASIC deputy chairman Peter Kell found the current arrangements were too vague.

  • James Eyers

Letters: Let’s not overrate our banks

Australian banks’ safety – and customer service; tax policy; gas projects and emissions rules; environmental repair; unfair to Downer; Tasmanian devils; Liberal Party.

Why the banking crisis is bigger than just banks

This week in The Fin podcast, senior reporter Jonathan Shapiro on how the latest financial crisis spread across the globe, what Australian banks and regulators are doing about it and where the next fire might start.

ANZ has tapped European investors on the back of strong messages from regulators and bank CEOs about the capital and liquidity strength of Australia’s big four.

ANZ’s $6b issues show Australia’s appeal

ANZ has issued €1.5 billion ($2 billion) in bonds to European investors, taking to more than $6 billion raised in two days and demonstrating the attractiveness of Australia’s major banks.

  • Updated
  • Jonathan Shapiro, Ayesha de Kretser and James Eyers
David Rowe illustration for Chanticleer of APRA deputy chairman John Lonsdale 24 July 2019

Be reassured, Australia’s banking system is rock solid

Whatever might be happening in the world, bankers, bank regulators and a minister told Tuesday’s Banking Summit that there is little risk of contagion here.

  • The AFR View
Westpac chief executive Peter King should brush up on Kenneth Hayne’s final report.

It’s rich for banks to complain about scams and finfluencers

The exit of the big banks from wealth management opened a gap for criminals and opportunists to exploit, so the banks bear special responsibility to fix it.

  • Aleks Vickovich
Ellis Connolly, head of payment policy at the Reserve Bank, addresses the AFR Banking Summit.

RBA payments boss ‘disappointed’ in banks’ missed deadline

Banks have failed to allow online sellers to choose a cheaper payments network, the RBA said.

  • Jessica Sier and James Eyers
John Lonsdale.

The dark side of Australian banking exceptionalism

Making too-big-to-fail banks even bigger might not be solution the global banking system needs or wants.

  • Jonathan Shapiro
APRA chairman John Lonsdale says the 10 largest banks can survive a dire economic scenario.

Banks underpin fortress Australia

Australian banks have world-leading capital strength and that allows them to compete more vigorously for customers. They can survive an economic crisis.

  • Updated
  • Tony Boyd
Matt Comyn says the banking sector is well-placed to withstand global shocks.

Banks shrug off global crisis and go to war instead

The banking sector says it’s well-placed to withstand global turmoil. But in two key sectors of the market, loans are being written below the cost of capital.

  • Updated
  • James Thomson

Not holding real ID can stop banks from being next Latitude: Westpac

Westpac fraud head Ben Young tells the AFR Banking Summit banks prefer to hold tokenised ID data instead; Tim Lawless says rental market vacancy rate could fall below 1 per cent. How the day unfolded.

  • Updated
  • Lois Maskiell and Campbell Kwan
ACCC chairwoman Gina Cass-Gottlieb speaks at the AFR Banking Summit in Sydney on Tuesday.

ACCC digs in on deposits inquiry despite global bank uncertainty

The competition regulator’s chairwoman, Gina Cass-Gottlieb, says the review will look at the “frictions and impediments” to savers easily switching products.

  • Patrick Durkin
Chanticleer columnist James Thomson talks to CBA chief executive Matt Comyn at The Australian Financial Review’s Banking Summit.

Australian banks are uniquely strong, says Matt Comyn

This is an edited and abridged transcript of a discussion between Commonwealth Bank CEO Matt Comyn and AFR Chanticleer columnist James Thomson.

  • Updated
APRA chairman John Lonsdale is ramping up the pressure on super funds over unlisted asset valuations.

Could we ever see a run on a super fund?

Super funds that continue to inflate the value of unlisted assets risk losing members determined to protect their retirement savings.

  • Karen Maley
ACCC chairwoman Gina Cass-Gottlieb at The Australian Financial Review Banking Summit.

Merger law needs early look power, ACCC boss says

Gina Cass-Gottlieb wants more time for the competition regulator to scrutinise big M&A deals.

  • John Kehoe
APRA chairman John Lonsdale (right) speaks to the Financial Review’s James Eyers on Tuesday.

APRA monitoring key prudential metrics very closely

John Lonsdale spoke to The Australian Financial Review’s James Eyers on banking and regulation at Tuesday’s AFR Banking Summit. This is an edited and abridged transcript of that conversation.

Since before the global financial crisis, the banks were holding two and a half times more capital, Matt Comyn said.

The three key sectors on CBA’s watch list

There were some pockets of weakness or potential weakness in the economy, according to the bank’s chief executive Matt Comyn.

  • Sally Patten
Former Fed chairman Ben Bernanke in 2017.

Bond maturity mismatch shows why near zero rates a serious error

In time, we may come to wonder why the chief architect of the policy that has created the painful imbalances in bank balance sheets – Ben Bernanke – won the Nobel Prize.

  • Stephen Grenville

Banks, regulator in show of strength after global turmoil

The prudential regulator says Australia’s banks have the strength to withstand an economic catastrophe, as senior bankers said they had secured enough funding to wait out any prolonged financial crisis.

  • Jonathan Shapiro, James Eyers and Ayesha de Kretser
Anna Bligh speaking at The Australian Financial Review Banking Summit on Tuesday.

Bligh warns against levy increase on big banks

Small banks, as well as some economists, have urged the government to raise the annual charge on major banks’ liabilities to help the budget bottom line.

  • Michael Read