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RBA Glossary definition for ACCC

ACCC – Australian Competition and Consumer Commission. A Commonwealth statutory authority responsible for ensuring compliance with the Competition and Consumer Act 2010 (formerly the Trade Practices Act 1974) and the provisions of the Conduct Code. The Commission's consumer protection work complements that of State and Territory consumer affairs agencies.

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Conclusions

1 Jul 2021 RDP 2021-07
Nicholas Garvin, Alex Kearney and Corrine Rosé
The rise in mortgage rates has already been shown: the ACCC and PC examine this in their analysis of competition in the Australian mortgage market (ACCC 2018a, 2018b; PC 2018). ... ACCC (2018a, 2018b) conclude that some of the rate rises reflected a
https://www.rba.gov.au/publications/rdp/2021/2021-07/conclusions.html

Macroprudential Limits on Mortgage Products: The Australian Experience

26 Jul 2021 RDP 2021-07
Nicholas Garvin, Alex Kearney and Corrine Rosé
We find that banks' mortgage interest income rose after the IO policy, in line with the ACCC's conclusion, but that the effect was short-lived. ... ACCC 2018b). However, when analysing targeted mortgages, this would more likely understate than overstate
https://www.rba.gov.au/publications/rdp/2021/2021-07/full.html

Introduction

1 Jul 2021 RDP 2021-07
Nicholas Garvin, Alex Kearney and Corrine Rosé
These rate rises partly reflected a desired repricing of risk, although ACCC (2018a, 2018b) also argue that the policies presented a focal point for coordinated anti-competitive price changes. ... We find that banks' mortgage interest income rose after
https://www.rba.gov.au/publications/rdp/2021/2021-07/introduction.html

References

1 Jul 2021 RDP 2021-07
Nicholas Garvin, Alex Kearney and Corrine Rosé
ACCC (Australian Competition and Consumer Commission) (2018a), Residential Mortgage Price Inquiry: Final Report, Australian Competition and Consumer Commission, Canberra. ... ACCC (2018b), ‘Residential Mortgage Price Inquiry: Interim Report’. APRA
https://www.rba.gov.au/publications/rdp/2021/2021-07/references.html

Other Mortgage Market Outcomes

1 Jul 2021 RDP 2021-07
Nicholas Garvin, Alex Kearney and Corrine Rosé
The ACCC has reached similar conclusions to the PC. ACCC (2018a, p 42) writes:. ... borrowers. Ultimately, the PC and ACCC concerns are that the policies lifted banks' ability to extract surplus value from customers (in a microeconomic sense), by
https://www.rba.gov.au/publications/rdp/2021/2021-07/other-mortgage-market-outcomes.html

Data and Variables

1 Jul 2021 RDP 2021-07
Nicholas Garvin, Alex Kearney and Corrine Rosé
ACCC 2018b). However, when analysing targeted mortgages, this would more likely understate than overstate the policy effect estimates.
https://www.rba.gov.au/publications/rdp/2021/2021-07/data-and-variables.html

Policy Effects of the Investor Limit

1 Jul 2021 RDP 2021-07
Nicholas Garvin, Alex Kearney and Corrine Rosé
when the internal limits did not suffice (ACCC 2018a; APRA 2019b).
https://www.rba.gov.au/publications/rdp/2021/2021-07/policy-effects-of-the-investor-limit.html

Policy Effects of the Interest-only Limit

1 Jul 2021 RDP 2021-07
Nicholas Garvin, Alex Kearney and Corrine Rosé
At the time, each of the large banks publicly attributed these IO rate rises to the policy (ACCC 2018a).
https://www.rba.gov.au/publications/rdp/2021/2021-07/policy-effects-of-the-interest-only-limit.html