MEDIA RELEASE No: 2003-09 Date: 24 July 2003 Embargo: For Immediate Release

REFORM OF CREDIT CARD SCHEMES IN AUSTRALIA -
ACCESS REGIME

The Reserve Bank announced its reforms to credit card schemes in Australia on 27 August 2002. At that time it did not gazette its proposed Access Regime because it recognised that parties may want to consider, and comment on, prudential standards to be released by APRA that would apply to specialist credit card issuers and acquirers. APRA's standards have now been finalised and were released on 23 July 2003. They are available at www.apra.gov.au.

The Reserve Bank has today published a notice in the Gazette providing for a further period of public comment on a revised proposed Access Regime. Details are in the attached Gazette notice.