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7 February 2019

 Insert the enclosed DVDs in a Windows PC to open at this LetterToMilindSathye_7-Feb-19.htm
If using a MAC or the enclosed USB Stick drive, or the enclosed DVD does not auto-open, open this letter at MilindSathye\LetterToMilindSathye_7-Feb-19.htm

Professor Milind Sathye        Milind.Sathye@canberra.edu.au

Professor in Banking and Finance 

Faculty of Business, Government & Law

University of Canberra

Building 1/11 Kirinari St,
Bruce  ACT  2617

 

Dear Professor Sathye

 

I have written this letter to you because of your Submission to the Senate Economics Committee on Competition within the Australian banking sector dated  25 November 2010.  below are your two primary recommendations which I heartily concur:

  1. Government needs to take radical steps to increase competition in the banking market. The proposed abolishing of exit fee and more powers to ACCC to investigate price signalling may not make a significant impact on competition.

  2. Any further take over/merger/acquisition of bank or non‐bank providers by the major banks may not be permitted. Though at the time of allowing St George‐Westpac competition, ACCC was of the view that it would not lead to substantial lessening of competition, subsequently it did.