Briefs: ABA spending revealed, APRA's crisis powers revisited
The Australian Bankers Association chewed through around A$9 million for "special projects" over an eight-month period ending in February 2017, The Australian reports, citing internal ABA documents. This includes the ABA's six-point reform package, and the "better banking" advertising campaign. An update to APRA's crisis management powers for a distressed bank or insurer is being readied by Treasury. Consultation on a bill to amend the Banking Act, among other laws, is open for less than a month. According to Treasury, these amendments provide APRA with an expanded set of crisis resolution powers, equipping it to act decisively to facilitate the orderly resolution of a distressed bank or insurer.