Media & Notices 2016

Date	Title & Summary	Topic Area
01-Dec-2016	New Benchmark Administrator for BBSW The Australian Financial Markets Association (AFMA) has today announced that it will transfer administration of the BBSW benchmark rate to ASX. It is the intention of both parties that ASX will administer BBSW from 1 January 2017.	Other
30-Nov-2016	AFMA Appoints New Chairman The Board of the Australian Financial Markets Association (AFMA) has appointed as its Chairman John Knox, CEO, Credit Suisse Australia.	Association
28-Nov-2016	Evolution of the BBSW Methodology An update on Operational Developments to Facilitate Market Change	Other
30-Sep-2016	Annual AFMA Prime Bank Elections The Australian Financial Markets Association today concluded its 2016 Prime Bank Survey, and from this process the current Prime Banks were re-elected, there being no other nominating institutions	Association
28-Sep-2016	Notice of Change to the Electricity and Environmental Product Conventions Members are advised of the following changes to the Electricity and Environmental Product Conventions that their respective Markets Committees has unanimously agreed to and which have been ratified by the Market Governance Committee.	Association
06-Sep-2016	Notice of Change to the Interest Rate Derivatives Conventions Members are advised of the following changes to the Interest Rate Derivatives Conventions that the Swaps Committee has unanimously agreed to and which have been ratified by the Market Governance Committee.	Other
02-Sep-2016	Debt Capital Market Issuance Disclosure Practice Following consideration by the AFMA Credit Product Committee of market feedback on debt capital market issuance disclosure, it has been resolved to recommend as good practice broad and consistent dissemination of debt primary market issues in a standard format.	Other
25-Aug-2016	AFMA introduces an Algorithmic Fall-back to the BBSW Calculation Methodology As advised in the 19 July Market Notice 2016_5, AFMA is changing the calculation methodology for BBSW to place it on a sounder footing going forward. One component of the new methodology is the introduction of an algorithmic fall-back stage, which would come into operation in the event that the NBBO calculation process fails to compute a BBSW rate for all tenors. It is expected that the algorithmic fall-back would be rarely used in practice.	Other
22-Aug-2016	Cessation of Environmental Products Data Publication AFMA has made a decision to discontinue the provision of Environmental Products data product on 30 September.	Other
09-Aug-2016	AFMA welcomes ASIC Reports 486, 487 AFMA welcomes the release today of Reports 486 and 487 by ASIC in relation to sell-side research and corporate advisory confidential information and conflicts, and a review of the cleanliness of the Australian equity market, respectively.	Other
22-Jul-2016	AFMA Commences BBSW Externalisation Process AFMA has previously advised the market that it intends to step away from its function as administrator of the Bank Bill Swap (BBSW) Benchmark Rate and will transfer responsibilities to an appropriately qualified entity. This will provide AFMA with greater capacity to conduct the policy advocacy and market development activities that form the core of its mission.	Association
19-Jul-2016	Evolution of the BBSW Methodology The Council of Financial Regulators, in its February Discussion Paper Evolution of the BBSW Methodology, asked AFMA to finalise a set of amendments to the BBSW methodology by end-June 2016. AFMA has concluded this process and has settled the changes to the future methodology	Other
08-Jul-2016	AFMA Carbon Addendum CRP methodology resolved AFMA’s Electricity Committee has selected a proposed methodology for the CRP, after consideration of the feedback from a general market consultation process that occurred in March/April	Other
11-May-2016	AFMA to Refocus its Support for Financial Benchmarks AFMA has determined that benchmark administration has now evolved to a point where it is appropriate for it as an industry body to step away from the function of being a benchmark administrator. This will provide AFMA with greater capacity to conduct the policy advocacy and market development activities that form the core of its mission.	Association
06-May-2016	Budget to Support Jobs and Growth: AFMA The Australian Financial Markets Association has welcomed the focus in the 2016/17 Budget on promoting growth in the Australian economy. The Government has laid out a cohesive narrative to support the transition of the Australian economy into one that promotes Australia’s competitiveness in the region and enhances Australia’s financial services export capability.	Other
02-May-2016	Attorney General’s Report Strengthens Australia’s AML/CTF Framework The Australian Financial Markets Association has welcomed the Attorney-General’s Department Report into Australia’s AML/CTF Regime (the Report), released on 29 April 2016	Other
20-Apr-2016	Government measures announced today to strengthen ASIC The Australian Financial Markets Association (AFMA) believes that ASIC should be properly funded to meet its responsibilities and that participants in the financial services sector should be prepared to provide a proportionate amount of ASIC’s funding through cost recovery. While incentives in the regulatory system would work better under a mixed funding model, AFMA understands the Government’s fiscal challenges and its decision to adopt a ‘user pays’ industry funding model for ASIC.	Other
15-Apr-2016	Notice of change to the Cash Market Conventions Cash Conventions changes specific to ESA holder banks	Other
30-Mar-2016	AFMA responds to announcement on competition in cash equities clearing The Australian Financial Markets Association (AFMA) welcomes the announcement today by the Treasurer, Scott Morrison, on competition in cash equities clearing.	Regulation
23-Mar-2016	Proposed change to Cash Market Conventions The AFMA Cash Committee has endorsed the Reserve Bank’s proposal to adopt a new data collection methodology to be applied to the calculation of the Interbank Overnight Cash Rate (IBOC), which is the Reserve Bank Board's operational target for the implementation of monetary policy. The new methodology would eliminate the need for data submissions by banks and rely instead on data extracted from RITS, however implementation is conditional upon the adoption of the proposed amendments to the market conventions governing market practice specific to all IBOC cash transactions between bank Exchange Settlement Account holders.	Other
10-Feb-2016	Council of Financial Regulators’ Discussion Paper on BBSW AFMA considers today’s release of the Council of Financial Regulators’ Discussion Paper on BBSW methodology a useful progression in the industry’s dialogue in relation to benchmark design	Other
01-Feb-2016	Healthy finance sector key to Australia’s productivity: AFMA The finance sector is critical to Australia’s future economic growth, according to a report released today from the Australian Financial Markets Association (AFMA).	Other
09-Jan-2016	Financial Sector Growth, Capital Formation and Productivity The financial and insurance services sector is the largest of the 12 industries that make up the market sector of the Australian economy, with a 9.9% share of output compared to the next largest sector mining with a 9.8% share. Productivity growth in the financial and insurance sector has outperformed productivity growth in the market sector as a whole on average over the 24 years to 2013-14. The financial sector contributes directly to productivity growth through its share of the economy, but also indirectly through its role in determining the quantity and quality of investment. The financial sector mobilises saving, while financial markets allocate that saving to its most productive uses in the form of investment. The efficiency of this capital formation process is an important driver of productivity growth, which is the main long-run driver of national income per capita.	Other

Date	Title & Summary	Topic Area
30-Nov-2016	AFMA Appoints New Chairman The Board of the Australian Financial Markets Association (AFMA) has appointed as its Chairman John Knox, CEO, Credit Suisse Australia.	Association
08-Jul-2016	AFMA Carbon Addendum CRP methodology resolved AFMA’s Electricity Committee has selected a proposed methodology for the CRP, after consideration of the feedback from a general market consultation process that occurred in March/April	Other
22-Jul-2016	AFMA Commences BBSW Externalisation Process AFMA has previously advised the market that it intends to step away from its function as administrator of the Bank Bill Swap (BBSW) Benchmark Rate and will transfer responsibilities to an appropriately qualified entity. This will provide AFMA with greater capacity to conduct the policy advocacy and market development activities that form the core of its mission.	Association
25-Aug-2016	AFMA introduces an Algorithmic Fall-back to the BBSW Calculation Methodology As advised in the 19 July Market Notice 2016_5, AFMA is changing the calculation methodology for BBSW to place it on a sounder footing going forward. One component of the new methodology is the introduction of an algorithmic fall-back stage, which would come into operation in the event that the NBBO calculation process fails to compute a BBSW rate for all tenors. It is expected that the algorithmic fall-back would be rarely used in practice.	Other
30-Mar-2016	AFMA responds to announcement on competition in cash equities clearing The Australian Financial Markets Association (AFMA) welcomes the announcement today by the Treasurer, Scott Morrison, on competition in cash equities clearing.	Regulation
11-May-2016	AFMA to Refocus its Support for Financial Benchmarks AFMA has determined that benchmark administration has now evolved to a point where it is appropriate for it as an industry body to step away from the function of being a benchmark administrator. This will provide AFMA with greater capacity to conduct the policy advocacy and market development activities that form the core of its mission.	Association
09-Aug-2016	AFMA welcomes ASIC Reports 486, 487 AFMA welcomes the release today of Reports 486 and 487 by ASIC in relation to sell-side research and corporate advisory confidential information and conflicts, and a review of the cleanliness of the Australian equity market, respectively.	Other
30-Sep-2016	Annual AFMA Prime Bank Elections The Australian Financial Markets Association today concluded its 2016 Prime Bank Survey, and from this process the current Prime Banks were re-elected, there being no other nominating institutions	Association
02-May-2016	Attorney General’s Report Strengthens Australia’s AML/CTF Framework The Australian Financial Markets Association has welcomed the Attorney-General’s Department Report into Australia’s AML/CTF Regime (the Report), released on 29 April 2016	Other
06-May-2016	Budget to Support Jobs and Growth: AFMA The Australian Financial Markets Association has welcomed the focus in the 2016/17 Budget on promoting growth in the Australian economy. The Government has laid out a cohesive narrative to support the transition of the Australian economy into one that promotes Australia’s competitiveness in the region and enhances Australia’s financial services export capability.	Other
22-Aug-2016	Cessation of Environmental Products Data Publication AFMA has made a decision to discontinue the provision of Environmental Products data product on 30 September.	Other
10-Feb-2016	Council of Financial Regulators’ Discussion Paper on BBSW AFMA considers today’s release of the Council of Financial Regulators’ Discussion Paper on BBSW methodology a useful progression in the industry’s dialogue in relation to benchmark design	Other
02-Sep-2016	Debt Capital Market Issuance Disclosure Practice Following consideration by the AFMA Credit Product Committee of market feedback on debt capital market issuance disclosure, it has been resolved to recommend as good practice broad and consistent dissemination of debt primary market issues in a standard format.	Other
19-Jul-2016	Evolution of the BBSW Methodology The Council of Financial Regulators, in its February Discussion Paper Evolution of the BBSW Methodology, asked AFMA to finalise a set of amendments to the BBSW methodology by end-June 2016. AFMA has concluded this process and has settled the changes to the future methodology	Other
28-Nov-2016	Evolution of the BBSW Methodology An update on Operational Developments to Facilitate Market Change	Other
09-Jan-2016	Financial Sector Growth, Capital Formation and Productivity The financial and insurance services sector is the largest of the 12 industries that make up the market sector of the Australian economy, with a 9.9% share of output compared to the next largest sector mining with a 9.8% share. Productivity growth in the financial and insurance sector has outperformed productivity growth in the market sector as a whole on average over the 24 years to 2013-14. The financial sector contributes directly to productivity growth through its share of the economy, but also indirectly through its role in determining the quantity and quality of investment. The financial sector mobilises saving, while financial markets allocate that saving to its most productive uses in the form of investment. The efficiency of this capital formation process is an important driver of productivity growth, which is the main long-run driver of national income per capita.	Other
20-Apr-2016	Government measures announced today to strengthen ASIC The Australian Financial Markets Association (AFMA) believes that ASIC should be properly funded to meet its responsibilities and that participants in the financial services sector should be prepared to provide a proportionate amount of ASIC’s funding through cost recovery. While incentives in the regulatory system would work better under a mixed funding model, AFMA understands the Government’s fiscal challenges and its decision to adopt a ‘user pays’ industry funding model for ASIC.	Other
01-Feb-2016	Healthy finance sector key to Australia’s productivity: AFMA The finance sector is critical to Australia’s future economic growth, according to a report released today from the Australian Financial Markets Association (AFMA).	Other
01-Dec-2016	New Benchmark Administrator for BBSW The Australian Financial Markets Association (AFMA) has today announced that it will transfer administration of the BBSW benchmark rate to ASX. It is the intention of both parties that ASX will administer BBSW from 1 January 2017.	Other
15-Apr-2016	Notice of change to the Cash Market Conventions Cash Conventions changes specific to ESA holder banks	Other
28-Sep-2016	Notice of Change to the Electricity and Environmental Product Conventions Members are advised of the following changes to the Electricity and Environmental Product Conventions that their respective Markets Committees has unanimously agreed to and which have been ratified by the Market Governance Committee.	Association
06-Sep-2016	Notice of Change to the Interest Rate Derivatives Conventions Members are advised of the following changes to the Interest Rate Derivatives Conventions that the Swaps Committee has unanimously agreed to and which have been ratified by the Market Governance Committee.	Other
23-Mar-2016	Proposed change to Cash Market Conventions The AFMA Cash Committee has endorsed the Reserve Bank’s proposal to adopt a new data collection methodology to be applied to the calculation of the Interbank Overnight Cash Rate (IBOC), which is the Reserve Bank Board's operational target for the implementation of monetary policy. The new methodology would eliminate the need for data submissions by banks and rely instead on data extracted from RITS, however implementation is conditional upon the adoption of the proposed amendments to the market conventions governing market practice specific to all IBOC cash transactions between bank Exchange Settlement Account holders.	Other

Date	Title & Summary	Topic Area
30-Nov-2016	AFMA Appoints New Chairman The Board of the Australian Financial Markets Association (AFMA) has appointed as its Chairman John Knox, CEO, Credit Suisse Australia.	Association
08-Jul-2016	AFMA Carbon Addendum CRP methodology resolved AFMA’s Electricity Committee has selected a proposed methodology for the CRP, after consideration of the feedback from a general market consultation process that occurred in March/April	Other
22-Jul-2016	AFMA Commences BBSW Externalisation Process AFMA has previously advised the market that it intends to step away from its function as administrator of the Bank Bill Swap (BBSW) Benchmark Rate and will transfer responsibilities to an appropriately qualified entity. This will provide AFMA with greater capacity to conduct the policy advocacy and market development activities that form the core of its mission.	Association
25-Aug-2016	AFMA introduces an Algorithmic Fall-back to the BBSW Calculation Methodology As advised in the 19 July Market Notice 2016_5, AFMA is changing the calculation methodology for BBSW to place it on a sounder footing going forward. One component of the new methodology is the introduction of an algorithmic fall-back stage, which would come into operation in the event that the NBBO calculation process fails to compute a BBSW rate for all tenors. It is expected that the algorithmic fall-back would be rarely used in practice.	Other
30-Mar-2016	AFMA responds to announcement on competition in cash equities clearing The Australian Financial Markets Association (AFMA) welcomes the announcement today by the Treasurer, Scott Morrison, on competition in cash equities clearing.	Regulation
11-May-2016	AFMA to Refocus its Support for Financial Benchmarks AFMA has determined that benchmark administration has now evolved to a point where it is appropriate for it as an industry body to step away from the function of being a benchmark administrator. This will provide AFMA with greater capacity to conduct the policy advocacy and market development activities that form the core of its mission.	Association
09-Aug-2016	AFMA welcomes ASIC Reports 486, 487 AFMA welcomes the release today of Reports 486 and 487 by ASIC in relation to sell-side research and corporate advisory confidential information and conflicts, and a review of the cleanliness of the Australian equity market, respectively.	Other
30-Sep-2016	Annual AFMA Prime Bank Elections The Australian Financial Markets Association today concluded its 2016 Prime Bank Survey, and from this process the current Prime Banks were re-elected, there being no other nominating institutions	Association
02-May-2016	Attorney General’s Report Strengthens Australia’s AML/CTF Framework The Australian Financial Markets Association has welcomed the Attorney-General’s Department Report into Australia’s AML/CTF Regime (the Report), released on 29 April 2016	Other
06-May-2016	Budget to Support Jobs and Growth: AFMA The Australian Financial Markets Association has welcomed the focus in the 2016/17 Budget on promoting growth in the Australian economy. The Government has laid out a cohesive narrative to support the transition of the Australian economy into one that promotes Australia’s competitiveness in the region and enhances Australia’s financial services export capability.	Other
22-Aug-2016	Cessation of Environmental Products Data Publication AFMA has made a decision to discontinue the provision of Environmental Products data product on 30 September.	Other
10-Feb-2016	Council of Financial Regulators’ Discussion Paper on BBSW AFMA considers today’s release of the Council of Financial Regulators’ Discussion Paper on BBSW methodology a useful progression in the industry’s dialogue in relation to benchmark design	Other
02-Sep-2016	Debt Capital Market Issuance Disclosure Practice Following consideration by the AFMA Credit Product Committee of market feedback on debt capital market issuance disclosure, it has been resolved to recommend as good practice broad and consistent dissemination of debt primary market issues in a standard format.	Other
19-Jul-2016	Evolution of the BBSW Methodology The Council of Financial Regulators, in its February Discussion Paper Evolution of the BBSW Methodology, asked AFMA to finalise a set of amendments to the BBSW methodology by end-June 2016. AFMA has concluded this process and has settled the changes to the future methodology	Other
28-Nov-2016	Evolution of the BBSW Methodology An update on Operational Developments to Facilitate Market Change	Other
09-Jan-2016	Financial Sector Growth, Capital Formation and Productivity The financial and insurance services sector is the largest of the 12 industries that make up the market sector of the Australian economy, with a 9.9% share of output compared to the next largest sector mining with a 9.8% share. Productivity growth in the financial and insurance sector has outperformed productivity growth in the market sector as a whole on average over the 24 years to 2013-14. The financial sector contributes directly to productivity growth through its share of the economy, but also indirectly through its role in determining the quantity and quality of investment. The financial sector mobilises saving, while financial markets allocate that saving to its most productive uses in the form of investment. The efficiency of this capital formation process is an important driver of productivity growth, which is the main long-run driver of national income per capita.	Other
20-Apr-2016	Government measures announced today to strengthen ASIC The Australian Financial Markets Association (AFMA) believes that ASIC should be properly funded to meet its responsibilities and that participants in the financial services sector should be prepared to provide a proportionate amount of ASIC’s funding through cost recovery. While incentives in the regulatory system would work better under a mixed funding model, AFMA understands the Government’s fiscal challenges and its decision to adopt a ‘user pays’ industry funding model for ASIC.	Other
01-Feb-2016	Healthy finance sector key to Australia’s productivity: AFMA The finance sector is critical to Australia’s future economic growth, according to a report released today from the Australian Financial Markets Association (AFMA).	Other
01-Dec-2016	New Benchmark Administrator for BBSW The Australian Financial Markets Association (AFMA) has today announced that it will transfer administration of the BBSW benchmark rate to ASX. It is the intention of both parties that ASX will administer BBSW from 1 January 2017.	Other
15-Apr-2016	Notice of change to the Cash Market Conventions Cash Conventions changes specific to ESA holder banks	Other
28-Sep-2016	Notice of Change to the Electricity and Environmental Product Conventions Members are advised of the following changes to the Electricity and Environmental Product Conventions that their respective Markets Committees has unanimously agreed to and which have been ratified by the Market Governance Committee.	Association
06-Sep-2016	Notice of Change to the Interest Rate Derivatives Conventions Members are advised of the following changes to the Interest Rate Derivatives Conventions that the Swaps Committee has unanimously agreed to and which have been ratified by the Market Governance Committee.	Other
23-Mar-2016	Proposed change to Cash Market Conventions The AFMA Cash Committee has endorsed the Reserve Bank’s proposal to adopt a new data collection methodology to be applied to the calculation of the Interbank Overnight Cash Rate (IBOC), which is the Reserve Bank Board's operational target for the implementation of monetary policy. The new methodology would eliminate the need for data submissions by banks and rely instead on data extracted from RITS, however implementation is conditional upon the adoption of the proposed amendments to the market conventions governing market practice specific to all IBOC cash transactions between bank Exchange Settlement Account holders.	Other