Regulator Performance Framework

Prior to the introduction of the Australian Government's Regulator Performance Guide in July 2021, Commonwealth regulators adhered to the Government's Regulator Performance Framework. The Framework aimed to encourage regulators to undertake their functions with the minimum impact necessary to achieve regulatory objectives. It was focused on the administration, monitoring and enforcement of regulation, rather than the setting of policy.

The Framework required regulators to measure and report on their performance against six key indicators specified in the Framework. The Bank, in consultation with stakeholders, developed two sets of metrics to allow assessment against the indicators – one focusing on its regulation of clearing and settlement facilities under the Corporations Act 2001; the other on its regulation of retail payment systems designated under the Payment Systems (Regulation) Act 1998.

The Bank published the following annual assessments under the old framework: