The Australian Competition and Consumer Commission granted the Australian Sustainable Finance Institute and its member banks interim authorization for discussions on potential capital requirement reforms, the regulator said in a March 7 statement.
Australian Sustainable Finance Institute members include ANZ Group Holdings (ASX:ANZ, NZE:ANZ), Westpac Banking (ASX:WBC, NZE:WBC), Commonwealth Bank of Australia (ASX:CBA), National Australia Bank (ASX:NAB), and Bendigo and Adelaide Bank (ASX:BEN).
The authorization is granted specifically in relation to regulatory capital requirements in Australia, and it will allow the member banks to discuss and exchange information only for the development of potential reform proposals to address constraints on sustainable finance and investment in Australia.
The authorization is conditional on the parties abiding by a competition protocol for the handling of competitively sensitive information.
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