Original article by Phillip Coorey, James Eyers
The Australian Financial Review – Page: 1 & 6 : 5-Aug-16

Prime Minister Malcolm Turnbull and Treasurer Scott Morrison have been asked to refrain from criticising the banks. Westpac CEO Brian Hartzer said on 4 August 2016 that their criticism is unwarranted. He stated that the banks could not pass on the recent official interest rate cut in full because of the necessity to balance the interests of borrowers with the need for prudent management of their funding needs. Turnbull reminded the banks that they have an obligation to act in socially responsible ways.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN BANKERS’ ASSOCIATION, RESERVE BANK OF AUSTRALIA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY