Financial regulators will be required to consider the burden any new rules place on lenders, especially smaller banks, Treasurer Jim Chalmers has said.
Dr Chalmers said the new measures – which would apply to the Australian Securities and Investments Commission, the Australian Prudential Regulation Authority and the Reserve Bank – would push regulators to consider how they are introducing changes to avoid overburdening banks.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
