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The Commonwealth Bank of Australia was established by the Commonwealth Bank Act 1911, introduced by the Andrew Fisher Labor government, which favoured bank nationalisation, with effect on 22 December 1911. [10] [11] In a rare move for the time, the bank was to have both savings and general bank business. The bank was also the first bank in ...
Commonwealth Bank of Australia v Barker is a leading Australian judgment of the High Court which unanimously and firmly rejected the proposition that contracts of employment in Australia should contain an implied term of mutual trust and confidence.
Banking in Australia is dominated by four major banks: Commonwealth Bank, Westpac, Australia & New Zealand Banking Group and National Australia Bank.There are several smaller banks with a presence throughout the country which includes Bendigo and Adelaide Bank, Suncorp Bank, [1] and a large number of other financial institutions, such as credit unions, building societies and mutual banks ...
The Reserve Bank of Australia (RBA) is Australia's central bank and banknote issuing authority. It has had this role since 14 January 1960, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank. [3]
Prior to his appointment to the Future Fund, Murray was the Chief Executive Officer of the Commonwealth Bank between 1992 and 2005. In Murray's 13 years as Chief Executive, the Commonwealth Bank transformed from a partly privatised bank with a market capitalisation of $6 billion in 1992 to a $49 billion integrated financial services company, [2] generating in the process total shareholder ...
The Commonwealth Bank Officers' Association was an Australian trade union, comprising staff of the Commonwealth Bank of Australia.It was established in 1930 and continued until 1993 when combined with another sector union to form the Finance Sector Union in a wider process of union amalgamation in Australia at that time.
A longstanding policy of the Federal Government in Australia has been to maintain this status quo, called the four pillars policy. The policy has been maintained through the Global Recession of 2008–09, as Westpac acquired St George Bank and the Commonwealth Bank acquired Bankwest, reinforcing the special status of the "big four".
The Australian Notes Board (ANB) was created in 1920, within the Department of Treasury, which issued notes until 1924, when this function was transferred to the Commonwealth Bank. [3] The ANB was abolished by the Commonwealth Bank Act 1924. [citation needed]