Co-operation on funding to aid smaller lenders during COVID-19

Co-operation on funding to aid smaller lenders during COVID-19

Co-operation on funding to aid smaller lenders during COVID-19

Apr 08 2020

The ACCC has granted interim authorisation for members of the ASF to work together to assist smaller lenders to maintain liquidity and issue loans to consumers and small businesses during the economic disruption caused by the COVID-19 pandemic.

This follows the announcement of the federal government’s $15 billion Structured Finance Support Fund (SFSF), which will allow smaller authorised deposit-taking institutions (ADIs) and non-ADI lenders to access funding at competitive prices. The SFSF will be administered by the Australian Office of Financial Management (AOFM).

The interim authorisation will allow ASF Members to coordinate their input about how the scheme will be administered.

Read the ACCC media release >