13 March 2023
Attributable to a spokesperson for the ABA:
“The Treasurer has indicated that the federal government is closely monitoring the situation.
The SVB case in the US has been brought about by a particular set of factors, including a high exposure to the tech industry.
Australia’s banks in contrast are strong and subject to a different set of regulatory frameworks.
ABA members are well diversified and therefore well positioned in the event that one sector experiences challenging financial circumstances.
They are well capitalised and already meet Australian Prudential Regulation Authority’s (APRA) “unquestionably strong” benchmarks. Further to this, Australian banks have this year implemented revised capital requirements, further strengthening financial resilience.”
Latest news
Australians are under attack from scams, part of a worsening global scams scourge, and all sectors need to ramp up the fight against these criminals, including government, law enforcement, banks, telcos, social media and crypto platforms and individuals.
The ABA welcomes the appointment of Michele Bullock as the new Reserve Bank of Australia (RBA) Governor.
The ABA acknowledges RBA Governor Phillip Lowe’s strong leadership of the central bank during one of Australia’s most turbulent periods, the COVID-19 pandemic.
The Australian Banking Association (ABA) has welcomed the launch of the Federal Government’s National Anti-Scam Centre (NASC), a key government and regulator initiative to help fight the scams scourge.