- An urgent review of banking competition to be completed by the end of 2017.
- More focus from regulators on competition to help deliver a competitive banking market that’s good for consumers, good for the economy and good for our financial sector.
- Implementation of the Financial System Inquiry recommendations.
- Recognition of the customer owned business model where customer interests are not in conflict with shareholder interests.
- Healthy competition is what drives the best outcomes for consumers;
- A competitive banking market is vital for the wider economy, for real consumer choice, and for strengthening our financial sector.
- Diversity of business models is good for stability and competition in banking. Customer-owned banking institutions put consumers first.
- The Financial System Inquiry warned that the banking sector is concentrated and that could limit the benefits of competition in the future.