Australian PM Turnbull being quoted by Reuters 4 Aug 2016
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Update 04.47 GMT
- banks will be asked to provide a full account of their affairs
Turnbull was speaking after slamming the banks for not passing on fully the 0.25% interest rate cut and amidst calls for a public enquiry into the banking system.
Says Turnbull:
"What we will do now is institutionalize regular accountability and transparency. So this will become part of your regular annual schedule if you are a bank CEO appearing before the House economics committee. You'll appear at least annually."
PM Turnbull under pressure to bring the banks in line