COMMONWEALTH BANK RESPONSE ON BANK DEPOSIT LEVY DECISION

Commonwealth Bank welcomes the Government’s decision to maintain current arrangements for funding of the Financial Claims Scheme, in line with recommendations of the Financial System Inquiry. 

Commonwealth Bank Chief Executive Ian Narev said: “Today’s policy decision strikes the right balance between maintaining confidence and supporting economic growth. The Australian banking system is strong and resilient without the need to impose additional costs on savers and investors.

“We congratulate the Government for its constructive consultation on this important policy decision, as demonstrated throughout the FSI process.”

ENDS