Regulation

Increasing housing supply will help combat rising prices but it’s “not a panacea”, according to a Reserve Bank economic adviser.

Papua New Guinea’s competition regulator has said it will not authorise Kina’s proposed acquisition of Westpac’s PNG and Fiji operations.

The watchdog’s chair has said it is not in the interest of the big four banks or their shared owners to fire up rivalry between them.

Banks that have not met their open banking obligations by November will risk facing enforcement action, the ACCC has cautioned.

The inaugural Financial Regulator Assessment Authority members have been announced, with the former chief executive of Macquarie Bank Limited serving as chair.

The housing market boom and economic rebound grew loan books in the three months to June, but APRA has warned the ongoing lockdowns have made the outlook “uncertain”.

The Reserve Bank has declared its September rate decision, amid ongoing lockdown restrictions.

 COVID-19 has escalated scam prevalence, with more than 1.2 million Australians affected in the last 12 months, according to a major bank.

The government has invited feedback on allowing digital signatures and electronic meetings, seeking to make its temporary COVID relief measure permanent.

The five largest Australian banks are midway through conducting their first climate change stress tests, with APRA releasing details on how they’ll test their loan books.