Treasurer Jim Chalmers will seek to boost the power of smaller regional banks as they struggle to compete against the big banks in mortgage lending through a regulatory review that will focus on the higher funding costs of small and medium lenders.
On Friday, Dr Chalmers unveiled a range of planned competition changes to banking home loans and deposit products, and a separate competition review of non-major lenders.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
