Competition within the Australian banking sector
Terms of Reference
Competition within the Australian banking sector, including:
(a) the current level of competition between bank and non-bank providers;
(b) the products available and fees and charges payable on those products;
(c) how competition impacts on unfair terms that may be included in contracts;
(d) the likely drivers of future change and innovation in the banking and
non-banking sectors;
(e) the ease of moving between providers of banking services;
(f) the impact of the large banks being considered ‘too big to fail' on
profitability and competition;
(g) regulation that has the impact of restricting or hindering competition within
the banking sector, particularly regulation imposed during the global
financial crisis;
(h) opportunities for, and obstacles to, the creation of new banking services and
the entry of new banking service providers;
(i) assessment of claims by banks of cost of capital;
(j) any other policies, practices and strategies that may enhance competition in
banking, including legislative change;
(k) comparisons with relevant international jurisdictions;
(l) the role and impact of past inquiries into the banking sector in promoting
reform; and
(m) any other related matter.
For further information, contact: Department of the Senate
PO Box 6100
Parliament House
Canberra ACT 2600
Australia