Last week we published a story detailing ANZs corporate restructuring which now permits the bank to invest in non-banking activities free from strict financial regulations.
ANZ was the first of the big banks to make such a move, and as part of our investigations, we asked Australias corporate regulators, the treasurer and the top banking lobby group whether any of the other big four were considering similar actions.
Below are their (non)responses.
Australian Prudential Regulation Authority:
In response to your emails, please find below the links to:
The media release: APRA grants authority to ANZ Group Holdings Limited as a non-operating holding company | APRA
The letter of authority:…
Read the full article at: https://michaelwest.com.au/treasurer-regulators-silent-big-banks-following-anz/