Powered by MOMENTUM MEDIA
subscribe to our newsletter
Non-majors confident of FSI mortgage changes

Non-majors confident of FSI mortgage changes

The customer-owned banks are confident that the Financial System Inquiry’s final report will address imbalances in the Australian mortgage market.

The majors are currently able to hold less capital than their smaller competitors because of regulatory distortions.

The smaller lenders have been calling on the government, through various FSI submissions, to create a more level playing field on capital, which they believe will secure the long-term stability of Australia’s banking sector and provide a more competitive marketplace.

Advertisement
Advertisement

Speaking to Mortgage Business, Customer Owned Banking Association acting chief executive Mark Degotardi said he is confident that these calls will be heard.

“We’re confident the FSI will put constructive recommendations on these matters to the federal government and we look forward to the release of the FSI’s final report next month,” Mr Degotardi said.

“Requiring systemically important banks to hold more capital and fixing unfair regulatory settings is not ‘gold-plating’ the system, it is good policy that protects the system and benefits consumers,” he said.

“The major banks should not be shielded from competition through regulatory artifice.”

The FSI will publish its final report next month.

 

Non-majors confident of FSI mortgage changes
mortgagebusiness

 

Latest News

The corporate regulator has revealed how it plans to implement 12 recommendations made by Commissioner Hayne in the final royal commission r...

The major bank has revealed the raft of changes it will initially make in response to Commissioner Hayne’s recommendations, including no l...

Bendigo Bank has partnered with Swinburne University of Technology to open a new Community Bank and use its profits to “enhance” educati...

FROM THE WEB

POST RC PANEL DISCUSSION ADDED

podcast

LATEST PODCAST: The current mindset of the mortgage industry

Is enough being done to ensure responsible lending?