Banking Amendment (Controls on Variable Interest Rate Changes) Bill 2010

Type: Private
Sponsor: BROWN, Sen Bob
Originating house: Senate
Status: Before Senate
Parliament no: 43
Summary: Amends the
Banking Act 1959
to require authorised deposit-taking institutions for a 24-month period to: not increase variable interest rate loans and mortgages by more than the Reserve Bank interest rate increases; and not decrease variable interest rate loans and mortgages by less than the Reserve Bank interest rate decreases.

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Progress

Senate
18 Nov 2010	Introduced and read a first time
18 Nov 2010	Second reading moved

Documents and transcripts

Text of bill

First reading

Explanatory memoranda

Explanatory Memorandum

Transcript of speeches

Proposed amendments

No documents at present

Schedules of amendments

No documents at present

Committee Information

No documents at present

Bills Digest

No documents at present

Helpful information

Text of bill

First reading: Text of the bill as introduced into the Parliament
Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changed to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.