Our approach and performance

We are an active participant in the political and public policy making process. Our approach is set out in our Political Donations Policy Summary (PDF 28kB).

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:

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, the Financial Services Council and United Nations Environment Program Finance Initiative and various banking and financial services associations throughout the region.

Our results

2014 results

2014 results

This year we continued to strengthen and build relationships with regulators, Government and Opposition policy makers through regular meetings with ANZ senior executives.

In Australia, we provided submissions to a number of Government consultations and inquiries, including: the Financial System Inquiry, DFAT Review of Australia’s Diplomatic Footprint, Senate Economics References Committee Inquiry on ASIC, Joint Standing Committee on Foreign Affairs, Defence and Trade Inquiry into the Role of the Private Sector in Promoting Economic Growth and Reducing Poverty in the Indo-Pacific Region, Australian Agricultural Competitiveness White Paper, and the Productivity Commission Inquiry into Childcare and Early Childhood Learning. ANZ was also instrumental in the key recommendations of the B20 to the G20.

In New Zealand, we provided submissions regarding legislative reforms, including: consumer and finance markets conduct law, the Foreign Account Tax Compliance Act, and workplace health and safety. We also provided a submission to New Zealand’s Commission for Financial Literacy & Retirement Income on their 2013 Review of Retirement Income Policies, the Reserve Bank of New Zealand on proposed changes to its policy settings on outsourcing and payments arrangements, and New Zealand’s Productivity Commission’s inquiries into Boosting Productivity in the Services Sector and Regulatory Institutions and Practices. We engaged with New Zealand political stakeholders and Government officials to discuss trade issues and economic activity in the country’s key offshore markets and shared ANZ’s insights and recommendations about competition and public policy matters.

Across the APEA regions, we responded to regulator surveys and requests for information on how ANZ identifies and manages market conduct risk. We worked with regulators and enforcement agencies to share intelligence and help strengthen practices to remediate AML/CTF risks, exit high risk customers, ensure compliance with sanctions and reduce fraud. We introduced an Independent Visitation Program with key regulators to reinforce the Bank’s commitment to understand regulatory concerns about local operations and the impact of the Group’s super regional strategy.

2013 results

2013 results

During 2013, we continued to contribute to parliamentary and regulatory examination of issues in our sector. Credit reform was a particular focus, with the Australian Government considering regulation of investment lending and small business credit. Our submission highlighted the need to find a balance between effective regulation and access to credit for small business.

Reflecting ANZ’s aspirations and presence in the region, we continued to contribute to discussions on regional issues. For example, we appeared before a Parliamentary inquiry into Australia’s relationship with Japan and Korea. We also provided a submission on the proposed Regional Cooperative Economic Partnership.

The Australian Federal Government’s White Paper, Australia in the Asian Century continued to be a focus in 2013 including the development of country strategies for Japan, Korea, China, India and Indonesia. Our submission focused on actions we believe Australia could take to strengthen and develop the relationships with each of those countries, particularly regarding further bilateral trade and investment.

ANZ actively supported the development of real-time payments, a recommendation of the RBA’s Payments Innovation Review. ANZ’s CEO Australia was a member of the Real-Time Payments Committee, formed by the Board of the Australian Payments Clearing Association, which provided an industry proposal for real-time payments to the RBA.

Our structured program of meetings between senior ANZ executives and politicians and senior Government officials continued to provide opportunities for in-depth discussions on the issues above and other key public policy and regulatory issues and political developments in the Asia Pacific region.

In New Zealand, the release of the ANZ insight report ‘Greener Pastures: The Global Soft Commodity Opportunity for Australia and New Zealand’ provided a basis for engagement with politicians, senior government officials and agricultural industry leaders about the country’s economy and export future.

2012 results

2012 results

During 2012, we continued to contribute to parliamentary and regulatory examination issues in our sector. For example, we made submissions to Parliamentary Committees reviewing reforms to privacy laws, which included major changes to Australia's credit reporting system.

Our submission to the Parliamentary Inquiry into the Post-GFC Banking Sector highlighted the substantial program of regulatory reform in the financial services sector in recent years and the competitive nature and strength of the Australian banking sector. Our Deputy CEO also appeared before the Committee to address questions on our submission and the Inquiry’s terms of reference.

ANZ's presence and aspirations in the Asia-Pacific region meant the Federal Government’s White Paper on Australia in the Asian Century was a particular focus of our engagement this year. Our submission focused on the steps Australia can take to maximise the opportunities in the region, including the need to build an Asia-capable workforce.

Our structured program of meetings between senior ANZ executives and politicians and senior Government officials continued to provide opportunities for in-depth discussions on the issues above and other key public policy and regulatory issues and political developments in the Asia Pacific region.

ANZ also participated in a number of government committees. For example, we were represented on Infrastructure Australia's Infrastructure Finance Working Group, which released its final report in April 2012. Additionally, ANZ's Deputy CEO was appointed to the Federal Government's Aged Care Financing Authority.

2011 results

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

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:

  • Submission to ASIC – Handling Confidential Information
  • Submission to the Productivity Commission Study into Bilateral and Regional Trade Agreements 
  • Submission to the Senate Economics Committee – Access of Small Business to Finance 
  • Submission to Treasury – National Credit Reform Green Paper
  • Submission to the Australian National Contact Point: Terms of Reference for an Update of the OECD Guidelines for Multinational Enterprises
  • Submission to Australian Treasury Improving protection for Corporate Whistleblowers 
  • Submission to Australian Treasury Reforms to Market Supervision
  • ING Australia Limited's Submission to the Review into the Governance, Efficiency, Structure and Operation of Australia’s Superannuation System (The Cooper Review) - Phase 1 Governance; Phase 2 Operations and Efficiency; and Phase 3 Structure 

See a full list of our submissions. 

2009 results

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:

  • Submission to ASIC - Consultation Paper for Responsible Lending
  • Submission to Treasury -  National Consumer Credit Protection Bill 2009
  • Submission to Consumer Credit Unit - National Consumer Credit Protection Regulations
  • Submission to Treasury - Improving protections for corporate whistleblowers
  • Submission to Treasury - Reforms to Market Supervision
  • Submission to the Joint Committee on Corporations and Financial Services - inquiry into Financial Products and Services 
  • Call for public submission on Pacific Agreement on Closer Economic Relations (PACER) Plus 
  • The Australian Consumer Law - Unfair Contract Terms Provision 
  • Australia and Korea Free Trade Agreement 
  • Multiple submissions to the New Zealand Parliament on a new financial advisers regime
  • Consultation with the New Zealand Government on the new Anti-Money Laundering Act

See a full list of our submissions. 

Political Donations
ANZ makes political donations each year 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

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:

  • National Mental Health and Disability Employment Strategy 
  • Productivity Commission's Review of Consumer Policy Framework
  • First Home Saver Accounts
  • Australian Law Reform Commission's discussion paper on privacy
  • Australian Government's Feasibility Study on an Australia-India Free Trade Agreement

See a full list of our submissions. 

Political Donations

ANZ makes political donations each year 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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