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Briefs: Aussie Post bills Big Four, Note Printing agrees to pay rise, Lonsdale nominated for APRA de

17 August 2018 4:48PM
Australia Post is demanding the big four banks fork out A$100 million between them by the end of this year to meet the cost of loss-making banking services provided in post offices, The Australian reports. Note Printing Australia, responsible for Australia's bank notes and a passport security feature, has come to an agreement with its workforce after acrimonious pay negotiations, reports news.com.au.  The company, a subsidiary of the Reserve Bank of Australia, agreed to five days of domestic and family violence leave, improved casual worker arrangements and an annual 2.5 per cent wage rise for the life of the three-year deal. Treasurer Scott Morrison has announced that he intends to nominate John Lonsdale for a five year term to fill a newly second deputy chair position at the Australian Prudential Regulation Authority. Lonsdale was most recently the deputy secretary, markets group, at the Treasury. Morrison said his preferred nominee would bring to APRA "a deep knowledge of the financial system and policy expertise" acquired in his over 30 years at Treasury. Lonsdale also played a critical role in helping to shape the current regulatory agenda in Australia as head of the Secretariat of the Financial System Inquiry in 2014.

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