Regulation

The Reserve Bank has appointed its first female deputy governor in its 62-year history.

The regulator has announced changes to its executive line-up, including a new CFO and general counsel.

The latter end of last year saw the value of court-imposed civil penalties via ASIC almost triple compared to the preceding six months.

The Reserve Bank governor has expressed confidence in current lending standards and the ability of borrowers to weather a rate rise.

Competition lawyer Gina Cass-Gottlieb has commenced her five-year term as chair of the ACCC.

Both the corporate and prudential watchdogs have set about slimming down their regulatory burden on industry, but the APRA chair has said it will take time.

For the first time in more than a decade, the banking and financial services industry wasn’t served with the most class action lawsuits of any sector.

Despite having higher loan-to-valuation ratios and lower cash buffers, first home buyers have been found to be no more likely to fall into financial stress or arrears.

The Australian Financial Security Authority has recruited a former Austrade acting chief.

Fierce competition led to the banks squeezing their loan rates further than funding costs dropped in the past year, RBA economists have reported.