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RBA Glossary definition for HAC Rule
HAC Rule – Honour All Cards Rule
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Payments System Board Annual Report 2004 -Glossary
22 Sep 2005
PSB Annual Report
2004
PDF
40KB
https://www.rba.gov.au/publications/annual-reports/psb/2004/pdf/glossary.pdf
EFTPOS and Visa Debit
18 Oct 2004
PDF
84KB
The HAC rule facilitates access to card issuing, promotes product development and innovation, and guarantees customer choice. ... merchants would stop accepting Visa Debit if the RBA abolished the HAC rule.
https://www.rba.gov.au/payments-and-infrastructure/debit-cards/submissions-debit-fees/cuscal-15102004.pdf
Visa Debit Submission to RBA
21 Apr 2004
PDF
238KB
Honour All Cards We do not support removal of the Honour All Cards (HAC) rule. ... The HAC rule ensures customers can choose the payment card that suits their needs.
https://www.rba.gov.au/payments-and-infrastructure/debit-cards/responses-debit-scheme/credit-union-serv-corp.pdf
Annexure 1: Reform of the EFTPOS and Visa Debit Systems in Australia: Economic Analysis
2 May 2005
PDF
246KB
Submissions on EFTPOS and Visa Debit Systems
https://www.rba.gov.au/payments-and-infrastructure/debit-cards/submissions-reform-draft/visa-29042005-3.pdf
Payments System Board Annual Report 2004 - Competition and Efficiency
22 Sep 2005
PSB Annual Report
2004
PDF
67KB
https://www.rba.gov.au/publications/annual-reports/psb/2004/pdf/competition.pdf
Visa’s Response to the RBA on Debit Issues
21 Apr 2004
PDF
376KB
18 It is worth noting that the risks associated with removing the HAC rule are substantially greater here than in the US. ... Given the HAC rule, merchants’ demand for Visa debit and credit cards has the same demand elasticity.
https://www.rba.gov.au/payments-and-infrastructure/debit-cards/responses-debit-scheme/visa-appendix-a.pdf
The Yield and Market Function Effects of the Reserve Bank of Australia’s Bond Purchases
19 May 2022
RDP
PDF
1938KB
Notes: Heteroskedasticity and autocorrelation corrected (HAC) standard errors in parentheses; , and denote statistical.
https://www.rba.gov.au/publications/rdp/2022/pdf/rdp2022-02.pdf
Payments System Board Annual Report 2004
15 Nov 2004
Annual Report
PDF
465KB
It also viewed the ‘no surcharge’ rule as detrimental to the effi cient and competitive functioning of the credit card payment system. ... A large group of merchants, led by Wal-Mart, sued MasterCard and Visa over their activities related to their
https://www.rba.gov.au/publications/annual-reports/psb/2004/pdf/2004-psb-ann-report.pdf
An Empirical BVAR-DSGE Model of the Australian Economy
2 Feb 2015
RDP
PDF
657KB
deviations from steadystate) of inflation and value-added output, vat , as well as growth in value-addedoutput.5 The rule is:. ... 8 We do not allow a role for the exchange rate in the Taylor rule, reflecting the findings of Lubikand Schorfheide (2007).
https://www.rba.gov.au/publications/rdp/2013/pdf/rdp2013-07.pdf
EFTPOS and Visa Debit
2 May 2005
PDF
110KB
Submissions on EFTPOS and Visa Debit Systems
https://www.rba.gov.au/payments-and-infrastructure/debit-cards/submissions-reform-draft/cuscal-29042005.pdf