Regulation

The federal government has released its mid-year budgetary update, in which it has lowered its forecasts for GDP growth and reported a $32.6-billion decline in projected revenue.

The prudential regulator has delayed implementation of product responsibility requirements in a bid to “maximise effectiveness” and “minimise costs”.

The prudential regulator has granted a restricted banking licence to a Sydney-based challenger bank.

ASIC has issued new guidance regarding the record-keeping responsibilities of lenders and brokers, warning that reporting failures could lead to non-compliance with NCCP.

ASIC has outlined the “reasonable steps” that a credit provider can take when using a benchmark to assess a borrower’s expenses.

The regulatory body has announced its revised capital treatment of loans written under the upcoming First Home Loan Deposit Scheme.

Treasurer Josh Frydenberg has touted the benefits of comprehensive credit reporting after re-introducing the bill in Parliament.

ASIC and APRA have formally committed to greater collaboration as part of their ongoing response to the banking royal commission’s recommendations.  

In a heated parliamentary hearing, the financial services regulator has defended its role in providing clarity around responsible lending, emphasising that its role is in providing “guidance ...

The chair of the prudential regulator is closely monitoring developments in the housing market, particularly the rise in “speculation”, amid financial stability concerns associated with the ...