THE impact of Brexit on regional growth and the current obsession with monetary policy are amongst the threats to the global banking and financial sector likely to dominate discussion at a major international conference on banking stability be held in Sydney later this month.

The Banking and Financial Stability Conference, hosted by the University of Sydney Business School, will bring together senior representatives of the US Federal Reserve Bank, the Reserve Bank of Australia, the Australian Prudential Regulation Authority, the Bank for International Settlements and The Bank of Finland.

Leading Banking and Finance experts from London’s Cass Business School; Haas School of Business, UC Berkeley; ANU; New York University; Fordham University; UNSW; Monash; the University of Melbourne and NZ’s Victoria University will also take part. 

“The pull-back in bank lending to the Asia-pacific by global but in particular European banks can be expected as a result of Brexit and this is a major concern for the region’s investment and growth,” said Conference Co-chair, Associate Professor Eliza Wu. “This trend started with the GFC continued into the European debt crisis and now with Brexit.”

Associate Professor Wu went on to say that “enhancing financial stability in the face of unprecedented monetary policy regimes that have been implemented around the world and the new risks that have developed within the global financial system will remain a major challenge for policy makers and a concern for those attending the Sydney Conference”.

“The most immediate concern is the increased level of uncertainty and volatility expected and experienced in the international financial markets due to the Brexit vote,” added Co-chair, Professor Suk-Joong Kim. “Brexit has cast doubt over London as the world’s most important financial centre and the future of the international banks that operate there.”

Conference Details:

Date:               Tuesday 12^th July 2016

Time:               8.00 AM to 5.40 PM (Conference Program below)

Venue:             University of Sydney Business School

                        Abercrombie Building, Cnr Abercrombie and Codrington Streets, Darlington

Contact:           Trevor Watson 02 9351 1918 or 0418 648 099

Further information

http://sydney.edu.au/business/finance/banking_and_financial_stability

Conference Program:

8.15-8.30  Conference Opening and Dean’s Welcome – Professor Gregory Whitwell

8.30-9.25  Dr Eli Remolona, Chief Representative for Asia and the Pacific of the Bank For International Settlements The rise of regional banking in Asia and the Pacific

9.25-10.20  Professor Thorsten Beck, Professor of Banking and Finance, Cass Business School, City University London Lending Concentration, Bank Performance and Systemic Risk.

10.35-11.30 Professor Kose John, Charles William Gerstenberg Professorship in Banking and Finance, New York University & Laura H. Carnell Professor of Finance, Temple University Interstate Banking, Bank Information, and Corporate Acquisitions

11.30-12.30 KEYNOTE ADDRESS: Dr Loretta Mester, President and CEO, Federal Reserve Bank of Cleveland Financial stability Considerations for Monetary Policy

1.30-2.30 KEYNOTE ADDRESS: Dr Luci Ellis, Head of Financial Stability Department, Reserve Bank of Australia Financial Stability and the Banking System

2.30-3.25  Professor Kevin Davis, Professor of Finance, University of Melbourne & Monash University & Australian Centre for Financial Studies Hunting the BIRP: Is there a Bail In Risk Premium in Australian bank hybrids?

3.40-4.35 Professor Nadia Massoud, Ian Potter Chair of Finance & Associate Dean of Research, Melbourne Business School Why and How Do Banks Lay off Credit Risk? The Choice between Retention, Loan Sales and Credit Default Swaps

4.35-5.30 Professor Iftekhar Hasan, Professor of Finance and Corrigan Chair in International Business and Finance, Fordham University & Scientific Adviser, Bank of Finland The real impact of Basel ratings-based capital rules on the finance-growth nexus

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TODAY, Council of Small Business of Australia (COSBOA) expressed its concern about the election status, which is creating uncertainty. In particular, the lack of facts presented in the arguments of the Labor Party.

Over the course of the campaigning period promises have been made, but COSBOA is concerned that Labor has won votes on false arguments and information, particularly around penalty rates and competition policy, says the association’s CEO, Peter Strong.

“We are concerned that the Labor Party is embracing the needs of a few big unions and their big business partners, where most union members are to be found,” said Mr Strong.

Left unchecked, big business and the Shop Distributive and Allied Employees’ Association (SDA), a trade union representing workers across the retail, fast food and warehouse industries, will see Australia’s productivity and standard of living fall, warns COSBOA.   

Last month, it was ruled by the Fair Work Commission (FWC) that the SDA organised for its partner companies to pay lower than award rates on weekends to help subsidise its members who work during the week, leaving students and other weekend workers, who are desperate for extra income, out in the cold.  It also meant that the only people who pay high penalty rates on weekends are small business people.

Mr Strong continues: “Why a two tiered workplace relations system? It’s because the unions continue to influence policy to their favour, thereby meaning the ALP continues to support big business, even though that’s to the detriment of everyone else – employees and small businesses.”

COSBOA also adds that it’s not just the SDA guilty of influencing the Government to pander to the needs of big business; it’s also the likes of the Transport Workers Union (TWU), which has most of its members in two major transport companies, Toll Holdings and Linfox.

Mr Strong adds: “These two companies are intent on forcing owner drivers off the road, through actions such as the Contractor Driver Minimum Payments Road Safety Remuneration, which sets national minimum payments for certain contractor drivers in the road transport industry, specifically small business people, making competition even more difficult.”

COSBOA is also aware that the CFMEU (the construction union) is well connected with non-Australian construction companies - Multiplex, John Holland Group, CIMIC (Leighton) - who want to limit access to work by sub-contractors and non-union labour.

“Interestingly, if the ALP embraced some good small business policies, changes to competition law, such as enacting the Effects Test, and increasing the threshold for definition of a small business to $10m straightway, then there is a good chance they would have picked up a few more votes and formed government. 

“Instead, they’ve followed Union orders, which does not give all ‘a fair go’ or act in the spirit of competition. Let’s hope the ALP revisits their small business policies, lest they fail the economy and fail workers,” finished Mr Strong.  

This week, 6–8 July, these issues will be raised with small business representatives, government and industry leaders in Brisbane at the COSBOA’s Vodafone National Small Business Summit.

The premier policy event will ensure that the voice of small business is heard and work to safeguard this community of more than 3 million small businesses, making sure the needs of small business people are front and centre.

For more information visit: http://www.cosboa.org.au

ENDS

TWO site visits, over 15demonstrations, and a Knowledge Theatre with up to 30 presentations are making up CeMAT Australia 2016, which is taking place July 12-14, a not-to-be-missed educational experience.

The event provides the opportunity to see the big systems in action, find out what is working for the industry and what the future holds, and what you can learn from these systems.

The site visits at CeMAT Australia, include tours of Fastline, a leading 3PL in Australia and one of the most advanced fashion distribution centres, and Australia Post, which revamped its systems with the support of Vanderlande’s (a CeMAT exhibitor) innovative CROSSORTER. A team from Australia Post will be sharing stories of some of the challenges they experienced when updating their parcel processing network, while Fastline employees will provide insights into a company which will soon be home to the biggest shuttle system in the southern hemisphere.

In addition, the event will feature more than fifteen demonstrations, with leading companies showing their big machines in action. The demonstrations will feature machinery from big names such as Dematic, with automated robotic picking, FMCG industry solutions, and a new dirt capturing system among others.

The centrepiece Knowledge Theatre, which spans all three days of the event, will feature talent including Michael Kilgarrif, Managing Director of Australian Logistics Council and Secretary General Olivier Janin of FEM (European Materials Handling Federation).

Topics covered will range from technology trends, to thermal comfort issues in a working environment, and economical material solutions to save money.

CeMAT will be hosting experts and peers from across the globe who will be available for networking opportunities as they share their own successes and trials, and ideas for how attendees can take their company’s innovation to the next level.

To see what the future holds, learn from the past, and collaborate with peers, register online with CeMAT.

The CeMAT exhibition, which includes access to the Knowledge Theatre is free to attend by registering online. Site visits are an additional cost of $95, include a plus one and booking is essential.

For more information visit www.cemat.com.au

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THE chief executive of the Queensland Resources Council (QRC), Michael Roche, has announced his intention to step down later this year, after more than 11 years in the role.

Mr Roche joined the QRC as chief executive in July 2005, after a distinguished career in the government and private sectors. He said now was the right time to move to the next stage of his career. 

‘It has been a great honour to be able serve the great Queensland resources sector over such an extended period at the helm of its peak body. The sector comprises wonderful people and hundreds of great businesses – large, medium and small - which deliver so much employment and wealth for our state,’ Mr Roche said.

‘The QRC is a great organisation with a very talented team that continues to deliver excellent service to the resources sector through some truly challenging times in recent years.’

Mr Roche said he had no intention of disappearing off into the sunset.

‘I enjoy my current non-executive board work and hope to do more of this. I also believe there is an opportunity to share my knowledge, expertise and experience built up over the past nearly 40 years, in a consulting capacity,’ Mr Roche said.

‘I am also keen to do more to assist the state’s charities and not-for-profit sector.

‘There is however no hiding the fact that the QRC chief executive role is a very demanding seven days a week commitment. I certainly look forward to also having more time with family and friends.’

QRC president Stewart Butel paid tribute to Mr Roche’s contribution over the past 11 years. 

‘Michael’s skills and commitment as an advocate for the Queensland resources sector and as a leader of a great Queensland organisation are second to none,’ Mr Butel said.

‘Michael is leaving big shoes to fill.’

Mr Butel said it was very much business as usual at the QRC, with Mr Roche committed to staying on to provide a suitable handover to a new chief executive, most likely in November 2016.

A recruitment process for Mr Roche’s successor is now underway, with international executive search firm Egon Zehnder having been retained by the QRC Board.

www.qrc.org.au

ends