FSI submissions part four: banking sector competition
- Thursday, 10 April 2014
Arguably the hottest debate in submissions to Australia's financial system inquiry (FSI) concerns competition in the banking sector. A raft of documentation provided by smaller banks and non-bank financial institutions (FIs) seeks to demonstrate to the inquiry that the Australian system provides unfair advantages to the big four. The major banks themselves, meanwhile, largely insist the system has no need for major change to promote competition.