‘Time is right’ for government-backed RMBS: Greg Medcraft

28 March 2024

“The AFG chairman and former ASIC chair says the time is now right to bring about the competition inquiry’s ‘compelling’ recommendation for a public RMBS.

On Wednesday (27 March), the House standing committee on economics released its Better Competition, Better Prices report, which made 44 recommendations to the government. …”

… Melina Morrison, chief executive of the Business Council of Co-operatives and Mutuals (BCCM), said: “We welcome recommendations to ensure customer-owned banks can compete fairly and equally with the big four banks.

“These measures would stimulate innovative product offerings and services from customer-owned banks, increase profitability and their opportunities to deliver benefits back to their members including in residential lending and small-business banking.”

Read the full article, ‘Time is right’ for government-backed RMBS: Greg Medcraft, in Mortgage Business, 28 March 2024