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Four pillars policy : ウィキペディア英語版 | Four pillars policy
The four pillars policy is an Australian Government policy to maintain the separation of the four largest banks in Australia by rejecting any merger or acquisition between the four major banks. ==History== The policy, originally "six pillars" (it initially included AMP and National Mutual), was adopted in 1990 by then Labor Treasurer Paul Keating. It covered the big four banks (Commonwealth Bank, Westpac, NAB, ANZ) and two insurers (AMP and National Mutual). It was essentially designed to block the merger between ANZ and National Mutual at the time. Keating believed this arrangement would ensure a competitive banking market.〔(Four pillars back on agenda ), ''The Age'', 14 May 2008〕 In 1997, leading business figure Stan Wallis ((Businessweek bio )) produced a report of his inquiry into Australia's financial system (the ''Final Report of the Financial System Inquiry'', commonly referred to as "the Wallis report.") which recommended that the "Four Pillars" model be dismantled, to leave the banks subject to the same merger competition tests as other businesses. In response, then Coalition Treasurer Peter Costello's removed the pillar status of the two insurers (National Mutual had by that time already been acquired by France's AXA), but the ban on mergers of the remaining four banks was retained, with the rider that none of them were considered immune from foreign takeover.〔(Westpac-St George merger won't topple four-pillars ), ''The Age'', 15 May 2008〕 With the change of government, new Treasurer Wayne Swan has stated in 2008, that the Labor government has no plans to dismantle the four pillars policy.〔
抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)』 ■ウィキペディアで「Four pillars policy」の詳細全文を読む
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