Media Release Reform of Credit Card Schemes in Australia – Access Regime

The Reserve Bank announced its reforms to credit card schemes in Australia on 27 August 2002. At that time it did not gazette its proposed Access Regime because it recognised that parties may want to consider, and comment on, prudential standards to be released by APRA that would apply to specialist credit card issuers and acquirers. APRA's standards have now been finalised and were released on 23 July 2003. They are available at www.apra.gov.au.

The Reserve Bank has today published a notice in the Gazette providing for a further period of public comment on a revised proposed Access Regime. Details are in the attached Gazette notice.

Enquiries

Michele Bullock
Acting Head of Payments Policy
Reserve Bank of Australia
SYDNEY

Phone: +61 2 9551 8710

Manager, Media Office
Reserve Bank of Australia
SYDNEY

Phone: +61 2 9551 9720