Document ID: chunk:federal_register_of_legislation:F2023L00106:reg:6
Version: federal_register_of_legislation:F2023L00106
Segment Type: reg
Provision Reference: reg 6
Character Range: 3905–6348

6  Directions on matters to be taken into consideration in the inquiry
  Under subsection 95J(6) of the Act, the Commission is directed to take into consideration all of the following matters in holding the inquiry:
 (a) the rates of interest paid on amounts deposited or held in retail deposit products, including with reference to any differences in rates of interest:
 (i) depending on the amount deposited or held; and
 (ii)  between new and existing customers; and
 (iii) depending on any other products held by the customer; and
 (iv) between those publicly advertised and those actually paid to customers; and
 (b) terms and conditions, other than interest rates, on which retail deposit products are supplied, including:
 (i) fees and charges paid by account holders; and
 (ii)  restrictions on customer access to deposited funds; and
 (c) supplier strategies in relation to retail deposit products, including supplier approaches to setting interest rates on retail deposit products; and
 (d) supplier decisions relating to terms and conditions (including interest rates) on which retail deposit products are supplied in light of changes in the Reserve Bank of Australia's target for the cash rate (which is the overnight money market interest rate), including:
 (i)  the timing of supplier announcements of interest rate changes and their implementation of those changes; and
 (ii) any differences in approach taken towards setting interest rates on retail deposit products and products for the provision of credit; and
 (e) the nature and extent of price and non-price competition in the supply of retail deposit products, including:
 (i) barriers to entry and expansion in retail deposit product markets; and
 (ii)  innovation in retail deposit product markets; and
 (iii) factors that affect customers switching to alternative retail deposit products, including the extent and existence of supplier practices and strategies, consumer behaviour, and the availability of information on products; and
 (f) the use of retail deposit products as a source of funding for suppliers' provision of credit, including:
 (i) the significance of retail deposit products in the funding of suppliers; and
 (ii)  the cost of using retail deposit products as a source of funding, compared to other sources of funding; and
 (iii) how the factors listed in subparagraphs (i) and (ii) differ according to the size and business model of the supplier.