COBA Response to Interim FSI Report Talk to us Phone us Email us Breadcrumbs UniBank About Us Member news & media 2014 COBA Response to Interim FSI Report 28 July 2014 28 July 2014 COBA Response to Interim FSI Report Australia’s customer owned banking sector has welcomed aspects of the Murray Inquiry’s Interim Report, but argues that it falls short on competition in banking. COBA’s CEO Louise Petschler said in a recent media release “The FSI Interim Report’s finding that the banking market is ‘competitive’ is contradicted by its other findings that regulatory capital requirements are not competitively neutral and that the ‘too big to fail’ problem has become entrenched.” “We are also very supportive of the report’s finding that ‘fairness is an important policy objective of the financial system’. The customer-owned sector strongly endorses the view that ‘fairness involves fair treatment by applying the concepts of integrity, honesty, transparency and non-discrimination which go to building trust in the financial system’. "A fairer banking system in Australia also relies on better recognition of the customer owned banking model, issues which COBA will be pressing for further review.”
