Finance in Focus Portal
ACCC announces 2025-26 compliance and enforcement priorities
Australian Competition & Consumer Commission (ACCC) Chair Gina Cass-Gottlieb delivered the keynote speech at the Committee for Economic Development Australia (CEDA), Thursday 20 February 2025, on the ACCC’s compliance and enforcement priorities for 2025-26.
RBA lowers interest rates
The Reserve Bank of Australia (RBA) has announced a cut to the official cash rate, reducing it by 0.25 per cent to 4.1 per cent. This decision marks the first rate cut in over four years and comes as a response to the easing inflationary pressures in the Australian economy. In the December quarter, underlying inflation was 3.2 per cent.
Government bans foreign purchases of established homes
The Government has announced new measures to address housing market pressures by banning foreign investors from purchasing established homes for at least two years and cracking down on land banking.
APRA proposes updated approach to HELP debts
The Australian Prudential Regulation Authority (APRA) has announced a consultation on proposed changes to how banks treat Higher Education Loan Program (HELP) debt repayments when assessing home loan applications.
ASIC proposes further relief for licensees under reportable situations regime
The Australian Securities and Investments Commission (ASIC) has proposed additional relief measures to help Australian financial services and credit licensees comply with the reportable situations regime. This initiative aims to reduce the reporting burden on the industry while ensuring that ASIC continues to receive high-value regulatory reports.
Review of Australia's four major banks 2023-2024
The House Standing Committee on Economics has published its report into the Review of Australia's four major banks 2023-2024.
APRA simplifies prudential framework for cloud outsourcing and ad hoc credit reporting collection
The Australian Prudential Regulation Authority (APRA) has confirmed two steps towards simplifying the prudential framework. APRA has withdrawn the 2018 Information Paper ‘Outsourcing Involving Cloud Computing Services’ due to the upcoming Prudential Standard CPS 230 Operational Risk Management (CPS 230).
Coalition financial services policy platform – key reforms
Brighte updates on Electrify 2515
AFIA associate member Brighte has provided an update of their Electrify 2515 Community Pilot, an initiative to electrify 500 homes in the Illawarra region. Brighte has reached initial milestones, with applications now being processed for a further 50 homes.
Allens Insight: AI
To assist businesses to make informed decisions about which AI tools to use and for what purposes, international commercial law firm and AFIA Associate Member Allens have conducted an in-depth analysis of the terms and conditions (T&Cs) applicable to a range of commonly used, off-the-shelf generative AI tools from an intellectual property perspective.
In other news
Government instructs APRA to relax HECS considerations in mortgage serviceability tests
The government has announced changes to lending guidelines for Australians with Higher Education Loan Program (HELP) debts, to more easily secure a mortgage.
APRA has confirmed it will begin consulting on changes to the treatment of HELP debts in serviceability requirements and debt reporting. ASIC will also move to adjust its responsible lending guidance.
Banks commit to protecting regional services
The government has secured new commitments from major banks to maintain essential banking services in regional Australia, following a significant decline in branch numbers in recent years. Since 2017, 36 per cent of regional bank branches have closed, raising concerns about access to financial services in rural communities.
Home lending picks up as investor activity grows
Australia’s housing loan market grew in the December 2024 quarter, with the total value of new loan commitments reaching $87.2 billion, up 1.4 per cent from the previous quarter and 16.0 per cent higher than the same period in 2023, according to the Australian Bureau of Statistics (ABS).
CommBank releases Household Spending Insights Index
The CommBank Household Spending Insights (HSI) Index remained unchanged at 153.4 in January 2025, as Australian consumers took a break from spending following a surge during the Black Friday, Cyber Monday, and Boxing Day sales.
Parliament passes Scams Prevention Framework
Assistant Treasurer and Minister for Financial Services Stephen Jones has announced the successful passage of the Scams Prevention Framework through Parliament.
Inquiry into the Digital Transformation of the Workplace – Final Report
The House of Representatives Standing Committee on Employment, Education, and Training has published the final report on its Inquiry into the Digital Transformation of the Workplace.
OAIC: Joint statement on building trustworthy data governance frameworks to encourage development of innovative and privacy-protective AI
Privacy Commissioner Carly Kind joined data protection authorities from Korea, Ireland, France and the UK in signing a joint declaration to reaffirm commitment to establishing data governance that fosters innovative and privacy-protective AI.