Commonwealth Bank of Australia ("CBA") - s.87B undertaking

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  • Commonwealth Bank of Australia ("CBA")
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Undertaking

The Commonwealth Bank of Australia (CBA) has undertaken to provide access to its EFTPOS and ATM networks on reasonable commercial terms and conditions to new and small financial institutions entering or expanding their operations in Tasmania and regional New South Wales. The CBA has also provided undertakings in relation to the vacation of banking sites in Tasmania and regional New South Wales. The CBA has provided undertakings in relation to information technology and telecommunications systems support and processing support for new entrants and small financial institutions, expanding their operations in Tasmania and regional New South Wales. The CBA has also provided undertakings in relation to price, service quality and product range to customers in Tasmania and regional New South Wales. It has undertaken to provide all these on terms which are equivalent to or more favourable than those available to customers in Metropolitan New South Wales. The undertakings provide for the appointment of an independent monitor to ensure that this is achieved.

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