CP 169 Term deposits that are only breakable on 31 days notice - Proposals for relief

Released 4 November. Comments closed 23 December 2011.

This consultation paper sets out ASIC’s proposals for relief to enable authorised deposit-taking institutions (ADIs) to issue term deposits of up to two years that can only be broken on 31 days’ notice, while being subject to the same regulatory requirements as ‘basic deposit products’ in the Corporations Act 2001 (Corporations Act).

The purpose of this paper is to seek the views of ADIs, investors, consumer groups and other interested parties on our proposals.

Download the paper (PDF) | Read the media advisory

Last updated: 04/11/2011 12:00