Public policy advocacy

Our approach

We are an active participant in the political and public policy making process. Our approach is set out in our Political Donations Policy (PDF 200kB).

We seek to constructively shape our operating environment and to inform our business decisions by understanding the perspectives of our community's elected representatives, policy makers and regulators.

Our participation in the political and public policy making process is multi-layered. At the leadership level, our CEO meets regularly with political, policy making and regulatory leaders. At the policy development level, we continually engage with regulators, governments and government agencies on public policy issues relevant to the financial services industry. This engagement takes a number of forms, including:

  • participation in government advisory bodies
  • regular, issue-specific discussion with elected representatives, policy makers and regulators
  • research-based submissions on business, economic, social and environmental issues.

We work in a collaborative and open way as members of associations that have similar interests and approaches to ours, and where further opportunities for dialogue and engagement are provided. Memberships include the Australian Bankers' Association, New Zealand Bankers Association, the Business Council of Australia and United Nations Environment Program Finance Initiative and various banking and financial services associations throughout the region.

2011 results

During 2011 we continued to contribute actively to the development of regulation in our sector. A particular focus has been the implementation of the Australian Government’s Competitive and Sustainable Banking Package, including reforms to credit card regulation, new account switching arrangements and the introduction of covered bonds.

Our submission to the Parliamentary Inquiry into Competition in the banking sector highlighted the competitive nature of the Australian banking sector and our views on how to support greater competition. Our CEO and Deputy CEO also appeared before the Inquiry.

We maintained our structured program of meetings between senior ANZ executives and politicians and senior government officials on the economy, key public policy and regulatory issues and political and economic developments in the Asia Pacific region.

We also provide submissions to government consultations on the Indonesia – Australia Comprehensive Economic Partnership Agreement (IA-CEPA) and to United States Treasury on the impact on the US Foreign Account Tax Compliance Act on our Asia-Pacific businesses.

2010 results

Our engagement focus includes:

  • keeping relevant government agencies and ministers informed of our key public policy and regulatory issues
  • a structured program of meetings to discuss with the government our super regional strategy and political and economic developments in the Asia Pacific region
  • providing government with regular information about the changes in our sources of funding and the likely impact on lending rates.

Our CEO and the heads of key businesses regularly discuss social and economic conditions with politicians and senior government officials, providing immediate access to important economic indicators such as loan application numbers and customer default rates.

Our submission to the Parliamentary Inquiry into Access of Small Business to Finance highlighted the measures we took to support viable small business customers during the downturn and the responsible approach we are taking to relaxing our lending to those customers as the economy recovers.

During 2010 submissions included:

2009 results

This year our engagement with Government increased in intensity and importance in light of the global economic downturn. In Australia our CEO and heads of our retail and commercial businesses met on several occasions with politicians and senior government officials, providing them with immediate access to important economic indicators such as loan application numbers and customer default rates.

A major regulatory reform affecting banks this year was the transfer of consumer credit regulation from States and Territories to the Commonwealth. ANZ provided three submissions supporting a national credit regime that can adapt to changes in the market more rapidly.

During 2009 ANZ contributed submissions on the following:

Political Donations

ANZ makes political donations each year [disclosed in our Annual Report (PDF 6.6MB)] to support the democratic process. In 2009 we donated $50,000 to the Liberal Party of Australia and $50,000 to the Australian Labor Party. There were no political donations in New Zealand.

2008 results

There are a number of issues that affect our industry and the way we do business and where, as a leading company and employer, we can provide a constructive contribution to public policy development.

During 2008 ANZ participated in the discussion on these issues, including through submissions, on the following:

Political Donations

ANZ makes political donations each year [disclosed in our Annual Report (PDF 3.65mb)] to support the democratic process. In 2008 we donated $50,000 to the Liberal Party of Australia and $50,000 to the Australian Labor Party. There were no political donations in New Zealand.

 

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