Regional Banks
We advised 7 Regional Bank CEOs during the Hayne Royal Commission into Financial Services
Objective
Smaller Authorised Deposit-taking Institutions (ADIs) expressed the need to level the playing field in policy and regulatory reform processes. Their aim was to ensure fair competition and mitigate the structural advantages held by major banks.
The regional bank CEOs included Bank of Queensland (BOQ), Bendigo-Adelaide Bank (BEN), Suncorp Bank (SUN), AMP Bank (AMP), ING, MyState and ME.
Approach
Advisory Street supported their case with strategic advocacy to elevate their position in government dialogues:
Identified critical policy and regulatory issues with material impacts across all seven client banks.
Developed compelling, evidence-based cases for reform, leveraging robust economic and financial modelling.
Authored and submitted detailed reform proposals to key government departments.
Facilitated high-level stakeholder engagement, brokering relationships between client CEOs and key political and regulatory stakeholders, including: Senior government ministers and opposition leaders, Parliamentary committees and inquiry panels.
Led direct consultations with major regulators, including Chairman of ASIC, APRA, ACCC, Governor of RBA, and Secretary of Treasury.
Client Outcome
Policy wins included:
12-month deferral of the BEAR legislation, providing banks with critical time to prepare for implementation.
Market adjustments in mortgage broker regulation by influencing the response to the Hayne Royal Commission recommendations.
Recalibration of macroprudential settings, easing constraints on credit flow and supporting balanced market competition.