Here’s how the newspaper’s front page told the story of a decade of momentous developments in banking and finance.Australia’s banking system mostly held up during the global financial crisis of 2008 and 2009, during which the federal government had guaranteed their deposits. Months before the inaugural Summit, the
APRA’s Byres warned the banks they may need to put more capital in reserve because they had concentrated too much of their lending in increasingly risky and high-priced housing.As the ethics and culture debate intensified, then-treasurer Scott Morrison announced a special bank levy in the 2017 budget.
On day two of what was then a banking and superannuation summit, new tough-talking ASIC chair James Shipton warned the banks they faced more onerous regulation if they did not move quickly themselves to improve their culture and ethics. Westpac CEO Brian Hartzer showed off the bank’s new mobile banking technology.landed the month before.
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