Risking it to support the economy

Friday 29 May, 2020
by ANZ Bluenotes

Banks and financial institutions are playing a critical role in stabilising Australia's economy during the COVID-19 pandemic. They are providing financial resilience and a reassuring sense of stability at a time of great uncertainty.

In March, the Australian Banking Association (ABA) announced relief packages for small business, with many banks also implementing wide-ranging assistance for individual customers. By April, the Federal Treasurer Josh Frydenberg was urging businesses to contact banks for help while waiting for government support to become available.

"In designing responses to this crisis, banks must consider not only the legal framework surrounding their activities but also community expectations.”

However, the vitally important role played by banks in managing this crisis is not without risk.

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The Oath

  • Trust is the foundation of my profession.
  • I will serve all interests in good faith.
  • I will compete with honour.
  • I will pursue my ends with ethical restraint.
  • I will help create a sustainable future.
  • I will help create a more just society.
  • I will speak out against wrongdoing and support others who do the same.
  • I will accept responsibility for my actions.

In these and all other matters;
My word is my bond.

The Vision

A banking and finance industry that meets the community’s needs and has its full confidence thereby fulfilling its integral role in society.