Purpose: This assessment allows students to demonstrate their ability to identify, research, and analyse issues/problems in the banking and finance industry in Australia, and to develop supported recommendations taking into account stakeholder expectations.
Task Details: Students need to research all aspects of the topic from the viewpoint of various stakeholders - as a minimum this should include the financial institution, its customers and Government(s). Students need to develop their analysis and findings, with conclusions as to the probable future relating to the problem/issue, into a professionally presented, 2500 + 10% word essay. Research Students need to support their analysis with reference from the text and a Requirements: minimum of eight (8) suitable, reliable, current and academically acceptable sources - check with your tutor if unsure of the validity of sources.
Topic: Your topic is: "APPLYING FOR A BANKING LICENCE IN AUSTRALIA".
"You have been approached by a Director of the Brilliant Bank, a global bank with a head office in New York, for advice on the operation of the banking system in Australia and the requirements for and method of applying for a banking licence in Australia. It wishes to set up a bank here.
Prepare a report for the director, carefully addressing the following issues:
- an analysis of the structure of the current financial system in Australia;
- structure of and developments in the current Australian banking industry;
- the regulation of banks in Australia - historical and current provisions;
- the opportunities and structure for another foreign bank in Australia;
- the risks facing a foreign bank starting a new operation in Australia;
- in terms of meeting official requirements and best practice, what the Brilliant Bank must do to obtain a banking licence in Australia; and
- recommendations and conclusion - re- recommended operational structure, the feasibility of making the application, and its likely success."