Mutual ADI mergers in New South Wales will be spared the cost of stamp duty for the vesting of land occurring as a consequence of the merger of credit unions. The State Revenue Legislation Amendment Bill 2017 provides for relief from this duty. The Basel Committee on Banking Supervision last year finalised its revised standard on minimum market risk, looking at capital requirements and knocking over a "fundamental" review of the trading book, or FRTB findings. The Committee suggested domestic implementation of these reforms should take place by January 2019, but a letter dated yesterday is advising APRA does not envisage a new market risk standard being finalised until the beginning of 2020 at the earliest. Once the standard is finalised, ADIs will have 12 months before it comes into effect.