Restricted Banking Licences: An Opportunity to be Seized

(2018) 29(1) Journal of Banking and Finance Law and Practice 57

UNSW Law Research Paper No. 18-22

13 Pages Posted: 22 Mar 2018 Last revised: 13 Jul 2018

See all articles by Anton Didenko

Anton Didenko

University of New South Wales (UNSW) - Faculty of Law

Katharine Kemp

University of New South Wales (UNSW) - Faculty of Law

Louise Malady

University of New South Wales (UNSW) - Faculty of Law

Ross P. Buckley

University of New South Wales (UNSW) - Faculty of Law

Date Written: January 1, 2018

Abstract

In August 2017, the Australian Prudential Regulation Authority (APRA) launched a public consultation concerning a new licensing regime for authorised deposit-taking institutions (ADI). This article argues that the new Restricted ADI licences proposed by APRA should, if implemented, serve to promote competition and innovation in Australia’s financial system. However, such promotion must preserve the integrity of the market and, crucially, ensure that Australians are not affected in case of possible failures of the new entrants. The integrity of the new licensing regime, which follows a global trend of creating new opportunities for businesses to enter the banking market, will ultimately depend on APRA’s response to the underlying challenges highlighted in this article.

Note: This article was first published by Thomson Reuters in the Journal of Banking and Finance Law and Practice and should be cited as Anton Didenko, Katharine Kemp, Louise Malady and Ross Buckley, Restricted Banking Licences: An Opportunity to Be Seized, 2018, 29, JBFLP, 57.

This publication is copyright. Other than for the purposes of and subject to the conditions prescribed under the Copyright Act 1968 (Cth), no part of it may in any form or by any means (electronic, mechanical, microcopying, photocopying, recording or otherwise) be reproduced, stored in a retrieval system or transmitted without prior written permission. Enquiries should be addressed to Thomson Reuters (Professional) Australia Limited.

Keywords: Australian Prudential Regulation Authority, APRA, authorised deposit-taking institutions, ADI, authorized deposit-taking institutions, licensing regime, banking market

Suggested Citation

Didenko, Anton and Kemp, Katharine and Malady, Louise and Buckley, Ross P., Restricted Banking Licences: An Opportunity to be Seized (January 1, 2018). (2018) 29(1) Journal of Banking and Finance Law and Practice 57; UNSW Law Research Paper No. 18-22. Available at SSRN: https://ssrn.com/abstract=3146666 or http://dx.doi.org/10.2139/ssrn.3146666

Anton Didenko (Contact Author)

University of New South Wales (UNSW) - Faculty of Law ( email )

Kensington, New South Wales 2052
Australia

Katharine Kemp

University of New South Wales (UNSW) - Faculty of Law ( email )

Kensington, New South Wales 2052
Australia

Louise Malady

University of New South Wales (UNSW) - Faculty of Law ( email )

Kensington, New South Wales 2052
Australia

Ross P. Buckley

University of New South Wales (UNSW) - Faculty of Law ( email )

Sydney, New South Wales 2052
Australia

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