Michael Keenan (Stirling, Liberal Party, Shadow Assistant Treasurer) Share this | Hansard source

I will list a series of questions, and I will ask the minister to respond to them. I think that is a shame, but if that is the only way it can be done then that is the way that we are forced to do it. In relation to APRA, and in view of the questions that I asked previously, do they pay close attention to the ratings agencies’ reports on banks? If so, which one do APRA look at? Did any of the particular Standard and Poor’s ratings in the last six months give APRA cause for concern? Does APRA have a responsibility to inform the market and the consumers of particular financial institutions of possible or actual downgrades in a bank’s credit rating? How do depositors find out when there is a change in the underlying ratings for a bank in which they have deposits? Would the Assistant Treasurer be concerned if this has occurred and he has not been informed?

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