Second Reading Speeches

Banking Amendment (Keeping Banks Accountable) Bill 2009

Type
Private
Sponsor(s)
FIELDING, Sen Steve
Originating house
Senate
Status
Not Proceeding
Parliament no
42

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Summary

Amends the

Banking Act 1959
to enable the Treasurer to determine that the Financial Claims Scheme no longer apply to a bank which either withholds an interest rate cut or increases its variable standard rate in response to an official interest rate reduction.