Banking Executive Accountability Regime
Summary of consultation paper.
Australia's banking system is highly regarded for its robust regulation and supervision, which has underpinned our strong performance during and since the GFC.
Australia's banking system is highly regarded for its robust regulation and supervision, which has underpinned our strong performance during and since the GFC. But the sector faces challenges on many fronts including complex regulatory reforms, a slowdown in revenue growth, increasing cost of funding, and vulnerability to volatile markets.
At the same time, there are opportunities through greater cost efficiencies, superior customer service, smarter distribution channels, new domestic and offshore markets, and strong IT systems and social media engagement, to name a few.
Our Banking & Capital Markets team works across the sector in Australia and globally. Our clients include iconic Australian banks, non-bank lenders including credit unions and building societies, foreign and regional banks, stockbrokers and leasing companies. We advise across the range of services from assurance and risk strategies to tax and consulting.
PwC's clients have access to the full range of our local and global financial services expertise and resources, an offering that has become increasingly important as the interplay of domestic and global markets presents new challenges.
We focus on adding value to individual clients and the banking industry through insights gained from our deep knowledge of Australian and international markets, our technical competencies, our approach to collaboration and long term relationships, and our willingness to challenge the status quo to explore new approaches.
Basel IV is the informal name for a suite of regulations which, taken together, represent a major change in the calculation of risk weighted assets. The regulations are due to be phased in starting in 2018, and may take up to 7 years to be fully implemented with a stepped approach to applying capital increases already proposed in Europe.
Summary of consultation paper.
While there are still a number of key questions to be clarified, it is our belief a consultation paper will be released soon.
Banks need to rethink their operating models to ensure they are focused on developing and maintaining the capabilities required to succeed in the future.
Read PwC's analysis on changes implemented by the Australian Government in the 2017-18 Federal Budget in regards to financial services.
The latest thinking on current and future banking trends from Australia and across our global network.
The Australian banking sector is in a state of flux. Renewed debate about culture and reputation, as well as uncertainty around the pace, scale and breadth of strategic disruption to the industry, mean that the bank of the future will look very different to the bank of today.
It's different this time... trust is an issue which will not go away.
Our biannual analysis of the four major Australian banks’ results covers a breadth of themes facing the banking industry including; bad debts, capital & returns, asset growth, margins and more.