Author: admin

Fair go needed for customer-owned banking

The Customer Owned Banking Association has identified a “top 10” list of failures of financial sector regulation to deliver competitive neutrality for the customer-owned model. “We can’t be complacent about diminishing competition and choice in our highly concentrated banking market,” said COBA CEO Louise Petschler. “The regulatory framework is letting down Australian banking consumers if […]

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COBA calls for D-SIB levy in Federal Budget

COBA is calling for a levy on Australia’s four “domestic systemically important banks” (D-SIBs) as part of a package of fiscally responsible budget measures that will deliver ongoing savings to the Federal Government of more than $1.4 billion a year. The recommendation is one of three made by COBA in its 2014-15 pre-budget submission. COBA […]

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Moody’s outlines strengths of customer owned model

The Customer Owned Banking Association today welcomed observations by ratings agency Moody’s about the strengths of the customer owned model in banking. In a report out today1 , Moody’s sees strong balance sheets, conservative business models and an above-average degree of custom loyalty. “Mutuals tend to deemphasise profit maximization in favour of providing value to […]

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Too big to fail not going away

Smaller institutions want the Hockey inquiry to get stuck into competition. George Liondis Louise Petschler might be in the business of representing the country’s smaller financial institutions, but she says the issue of what to do with those considered “too big to fail” should be the priority for the government’s inquiry into the financial system. […]

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APRA confirms risks posed by big four banks

The banking watchdog has today confirmed that the big four banks are now so big that they need more intense oversight and higher capital to combat their “too big to fail” risk to our economy. The Australian Prudential Regulation Authority says the big four banks’ “implicit guarantee” can encourage systemically important banks to take excessive […]

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Banking inquiry has formidable task

Today’s headlines about super savings being pushed into low-return accounts that help boost the profits of the big four banks highlight the task ahead of the newly appointed Financial System Inquiry panel. According to front-page stories in the Sydney Morning Herald and The Age today, big bank-owned fund managers are putting super savings into accounts […]

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Avoid an online shopping hangover this Christmas

Consumers are being urged to take simple steps online and on mobile phones when buying presents this Christmas. The Customer Owned Banking Association says shoppers should use Stay Smart Online to ensure any purchase they make is safe and secure. COBA is a partner of Stay Smart Online, which is particularly important at this time […]

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Better credit card deals for Christmas

The Customer Owned Banking Association has challenged consumers to make sure they’re not missing out on the best Christmas credit card deal. COBA today said Christmas shoppers only needed to take a few minutes out of their busy schedules to learn more about the better alternatives in the marketplace. Latest figures from Canstar show consumers […]

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KPMG Report shows scope for growth

COBA today welcomed a KPMG report that shows the customer owned banking sector is in great shape, with a solid foundation for growth. The outlook was delivered by KPMG in its annual survey released today. COBA CEO Louise Petschler said today’s report contains some encouraging findings. “As KPMG notes, we are well capitalised, with significant […]

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Consumers have a stake in the future of banking

The unfair advantages enjoyed by the big four banks must be a key target for the Financial System Inquiry (FSI) formally announced last night by the Federal Government. The Customer Owned Banking Association today outlined its main priorities for the FSI, following the appointment of former CBA boss David Murray as head of the inquiry […]

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