A Variation to the Access Regime for the ATM System: Conclusions – August 2012 1. Introduction

The Reserve Bank (the Bank) recently sought views on a proposal to vary the Access Regime for the ATM System (the Access Regime). The variation would extend the Bank's exemption power in relation to the Access Regime's prohibition on certain interchange fee arrangements in the ATM system. The Bank's Payments System Board (the Board) decided at its August 2012 meeting that it is appropriate for the Access Regime to be varied in this way. This will allow the Bank the flexibility to grant an exemption – where it is satisfied that it is appropriate – to arrangements in which an ATM market participant is both a payer and receiver of interchange fees under ‘one-way arrangements’.

This document is set out as follows. Section 2 discusses the intent and purpose behind some of the provisions in the current Access Regime and why a variation has been considered. Section 3 discusses the specific variation to the Access Regime, while Section 4 summarises the views expressed by various parties during consultation. In light of these views, Section 5 discusses the case for a variation, and Section 6 sets out the Bank's conclusions. The varied Access Regime can be found in the Attachment.