17 September 2009
© Commonwealth of Australia 2009 ISBN 978-1-74229-148-2
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Referral of the InquiryConduct of the inquiryOutline of the report
A history of strong banks in Australia Concentration in the Australian banking market
Economies of scale in bankingEconomies of scopeConcentration, contestability and interest margins
The Westpac takeover of St George BankThe Commonwealth Bank takeover of BankWestBranding strategiesPossible further mergersImpact on consumer choiceImpact of mergers on system stabilityImpact on interest marginsThe global financial crisis and bank mergers
ACCC approval of mergersThe 'four pillars' policyApproval by the Treasurer for other bank takeoversThe role of the Australian Prudential Regulation Authority (APRA)
Employment in bankingEmployment impact of mergers'Offshoring' of jobs by banksThe extent of offshoringThe impact of offshoringPolicy responses to offshoring
Competition in the Banking SectorMember owned financial institutionsIncreased transparency of the ACCCACCC, APRA and the Reserve Bank – Joint Annual ReportMonitoring and enforcing conditionsEmployment and offshoring
IntroductionBackgroundThe economic, social and employment impacts of the recent mergersThe measures available to enforce conditions on future bank mergersThe capacity for the ACCC to enforce divestiture in the banking sectorConsumer choice and competitionOff-shoringConclusion
Canberra, Thursday 12 March 2009Canberra, Friday 13 March 2009Brisbane, Wednesday 1 July 2009Perth, Thursday 2 July 2009Canberra, Monday 10 August 2009
Committee Secretary Senate Standing Committees on Economics PO Box 6100 Parliament House Canberra ACT 2600 Australia Phone: +61 2 6277 3540 Fax: +61 2 6277 5719 Email: economics.sen@aph.gov.au
Committee Secretary Senate Standing Committees on Economics PO Box 6100 Parliament House Canberra ACT 2600 Australia
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