ANZ wants bank regulators to rethink "buffers against extreme system risk," - in effect calling for the unwinding of APRA's assessment of the four major Australian banks as Domestic Systemically Important Banks.The D-SIB rules, announced late last year, require that each of the Big Four banks have capital conservation buffers one percentage point higher than other ADIs from January 2016. ANZ emphasised in a submission to the Financial System Inquiry that "APRA has stated that the designation of a bank as a D- SIB does not make it immune from failure.""While some have continued to argue that major banks are 'too big to fail' and therefore gain a competitive advantage, this was clearly rejected in APRA's announcement of 23 December 2013."
ANZ otherwise struck a tone in its submission somewhat at odds with the Australian Bankers Association.For instance, it said: "Markets for bank funding operate efficiently and there is no intervention required to facilitate the ongoing funding of Australia's economic growth."