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Four Pillars Policy
The four pillars policy is an Australian Government policy to maintain the separation of the four largest Banks of Australia, banks in Australia by rejecting any M&A, merger or acquisition between the four major banks. The policy, rather than formal regulation, first articulated in 1990, reflects the competitive concerns of more concentration as well as the broad political unpopularity of further bank mergers. A number of economic liberalism, economically liberalist commentators have argued that the "four pillars" policy is built upon economic fallacies and works against the Australia's better interests. The top four banking groups in Australia ranked by market capitalization, market capitalisation at share prices at 5 June 2021: By market capitalisation, the Commonwealth Bank and Westpac are usually the two biggest companies on the Australian Securities Exchange and the big four banks make up a quarter of the ASX200.The Age, 26/07/2017'Are banker salaries really necessary?' - P ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Government
The Australian Government, also known as the Commonwealth Government, is the national government of Australia, a federal parliamentary constitutional monarchy. Like other Westminster-style systems of government, the Australian Government is made up of three branches: the executive (the prime minister, the ministers, and government departments), the legislative (the Parliament of Australia), and the judicial. The legislative branch, the federal Parliament, is made up of two chambers: the House of Representatives (lower house) and Senate (upper house). The House of Representatives has 151 members, each representing an individual electoral district of about 165,000 people. The Senate has 76 members: twelve from each of the six states and two each from Australia's internal territories, the Australian Capital Territory and Northern Territory. The Australian monarch, currently King Charles III, is represented by the governor-general. The Australian Government in its executi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Amcor
Amcor plc is a global packaging company. It develops and produces flexible packaging, rigid containers, specialty cartons, closures and services for food, beverage, pharmaceutical, medical-device, home and personal-care, and other products. The company originated in paper milling businesses established in and around Melbourne, Australia, during the 1860s. These were consolidated as the Australian Paper Mills Company Pty Ltd, in 1896. Amcor is a dual-listed company, being listed on the Australian Securities Exchange () and New York Stock Exchange (NYSE: AMCR). , the company employed 44,000 people and generated US$14.5 billion in sales from operations in some 200 locations in over 40 countries. Reflecting its global status, Amcor is included in several international stock market indices, including the Dow Jones Sustainability Index, CDP Climate Disclosure Leadership Index (Australia), the MSCI Global Sustainability Index, the Ethibel Excellence Investment Register, and the FTSE4 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anti-competitive Practices
Anti-competitive practices are business or government practices that prevent or reduce competition in a market. Antitrust laws differ among state and federal laws to ensure businesses do not engage in competitive practices that harm other, usually smaller, businesses or consumers. These laws are formed to promote healthy competition within a free market by limiting the abuse of monopoly power. Competition allows companies to compete in order for products and services to improve; promote innovation; and provide more choices for consumers. In order to obtain greater profits, some large enterprises take advantage of market power to hinder survival of new entrants. Anti-competitive behavior can undermine the efficiency and fairness of the market, leaving consumers with little choice to obtain a reasonable quality of service. Anti-competitive behaviour is used by business and governments to lessen competition within the markets so that monopolies and dominant firms can generate superno ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crisis Of 2007–2008
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
St George Bank
St.George Bank is an Australian bank with its headquarters in Sydney. Since a 2008 merger, the bank has been part of Westpac, having previously been an independent legal entity. In 2010, St.George was deregistered as a company and ceased to be a standalone authorised deposit-taking institution. The bank provides services primarily in New South Wales, but with growing representation across a number of industry and business segments in Queensland and Western Australia, and in Victoria before the relaunch of the Bank of Melbourne brand in July 2011 (also another division of Westpac). St.George also operates in South Australia and the Northern Territory under its subsidiary BankSA. The bank has a large number of retail branches and ATMs across Australia, and some back office operations in Bangalore, India. History Origins The current bank is the result of the merger and/or acquisition of a number of building societies and banks. The St.George Co-operative Building Society Ltd ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Melbourne (1989)
The Bank of Melbourne is a financial institution based in Melbourne, Australia, established in 1989 and taken over by the Westpac Banking Corporation (Westpac) in 1997. In 2004, Westpac rebranded the Bank of Melbourne branches as Westpac branches. In 2011, Westpac resurrected the brand after rebranding its purchase of Bank of St George in Melbourne specifically and possibly in response to its initial closing of the brand. History The Bank of Melbourne was established in July 1989, following the granting of a banking licence to the RESI Statewide Building Society, with a listing on the Australian Securities Exchange following on 13 July 1989. The first chairman of the bank was Christopher Stewart, who chose Australian actor Jack Thompson to head the bank's TV advertising campaign, which ran for a decade. The bank focused operations on retail banking, with a branch network and operations focused on the state of Victoria. As a former building society, the bank was also heavily invo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Challenge Bank
Challenge Bank was an Australian bank. It was established in April 1987 when the Hotham Permanent Building Society of Victoria and Perth Building Society of Western Australia merged. In December 1995 it was purchased by Westpac. In May 1996, the Victorian business was sold to the Bank of Melbourne that in turn was purchased by Westpac in 1997. Government of Victoria
The Victoria State Government, also referred to as just the Victorian Government, is the state-level authority for Victoria, Australia. Like all state governments, it is formed by three independent branches: ...
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BankWest
Bankwest is an Australian full-service bank based in Perth, Western Australia. It was sold in October 2008 to the Commonwealth Bank of Australia for 2.1 billion and operates as a division of its parent company. Bankwest previously had branches in Adelaide, Brisbane, Canberra, Melbourne and Sydney. History In 1895, the Government of Western Australia established the Agricultural Bank of Western Australia as a rural lender to support the State's farming industries. Despite its name, it was technically not a ''bank'', in that it did not collect deposits from the public, its liabilities being government bonds. It was a government instrumentality that lent exclusively to farmers. In May 1916, the Agricultural Bank changed its name to the Rural and Industries Bank of Western Australia (also known as R&I Bank). In 1945, the Agricultural Bank became a full trading bank. This enabled it to expand its retail and commercial banking services throughout the state. In 1956 it became a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Bank Of Victoria
The State Bank of Victoria was an Australian bank that existed from 1842 until 1990 when it was taken over by the Commonwealth Bank. It was owned by the State of Victoria. History A government-controlled savings bank had been founded on 1 January 1842 as the Savings Bank of Port Philip. Other independent savings banks merged over time and this development was recognised by legislation in 1912, which reconstituted the bank as the State Savings Bank of Victoria. In 1980 its name was changed to the State Bank of Victoria, the name it had until its sale to the Commonwealth Bank in 1990 and subsequent dissolution. The State Bank collapsed due to the weight of the grossly irresponsible lending made in the 1980s, in particular by its merchant bank subsidiary Tricontinental, after the Reserve Bank of Australia decision to increase interest rates in 1989 brought about the deep recession that put pressure on those financial institutions that were heavily exposed to the property market. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Bank Of New South Wales
The State Bank of New South Wales, from 1933 until 1981 known as the Rural Bank of New South Wales, was a bank that was owned by the Government of New South Wales. It existed from 1933 until 1994, when it was taken over by the Colonial State Bank and then the Commonwealth Bank in 2000. History of operations Founding and growth By early 1931, the Government Savings Bank was in financial trouble in the midst of the Great Depression, and on 22 April 1931 the Bank suspended payments after a drain on its cash resources. On 15 December 1931, the majority of the Government Savings Bank was amalgamated into the Commonwealth Savings Bank. The Rural Bank and Advance Homes Departments of the Government Savings Bank were not taken over by the Commonwealth Savings Bank, and continued to operate. In late 1932, the NSW Government led by Assistant Treasurer Eric Spooner introduced legislation to reconstitute what remained of the Government Savings Bank into a new "Rural Bank of New South Wales ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Colonial First State
Colonial First State (CFS), is an Australian wealth management group that provides investment, superannuation and retirement products to individuals and corporate and superannuation fund investors. History The company was established in 1988 when the State Bank of New South Wales created First State Fund Management as a subsidiary. In 1994, Colonial Mutual acquired the State Bank of New South Wales from the NSW Government, and on 23 September 1996 the merged entity was rebranded as Colonial State Bank, with First State Fund Management being branded as "Colonial First State" (CFS). CFS demutualised in 1997 and in 2000, it was acquired by the Commonwealth Bank, with the Colonial State Bank division being merged into the Commonwealth Bank. In May 2020, owner Commonwealth Bank announced that, subject to gaining approval from the Australian Prudential Regulation Authority and Foreign Investment Review Board The Australian Foreign Investment Review Board (FIRB), "examines proposa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wayne Swan
Wayne Maxwell Swan (born 30 June 1954), often colloquially referred to as Swanny, is an Australian politician who is National President of the Labor Party. He was previously the Deputy Prime Minister of Australia and Deputy Leader of the Labor Party from 2010 to 2013, and the Treasurer of Australia from 2007 to 2013. Swan was first elected to the House of Representatives in 1993 for Lilley in Queensland, although he lost this seat in 1996. He regained the seat in 1998 and represented it until retiring in 2019. Following Labor's victory in 2007, Swan was appointed Treasurer of Australia by Prime Minister Kevin Rudd. In this position, he played a key role in Australia's response to the Global Financial Crisis throughout 2008 and 2009. In 2010, after Julia Gillard became Prime Minister, Swan was elected unopposed as her deputy and was subsequently sworn in as Deputy Prime Minister. In 2011, Swan was named Finance Minister of the Year by ''Euromoney'' magazine, joining Paul Keati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
