delete Banking Regulations 1966
Banking Regulations 1966 establishes rules and requirements for banks operating in Australia, including capital requirements, lending practices, reporting obligations, and operational standards.
This 1966 regulation is fundamentally outdated and imposes significant compliance costs on banks that are ultimately passed to consumers through higher fees and reduced services. The restrictions hinder competition and innovation in the banking sector, which could better serve Australians through market-driven solutions. Many provisions likely duplicate or conflict with modern prudential standards, creating unnecessary administrative burdens without proportional benefits.