Treasury is consulting on changes to the Minister Rules under the Financial Accountability Regime (FAR) Act.

The Financial Accountability Regime (Minister) Amendment (Enhanced Notification Threshold) Rules 2026 will amend the Rules by increasing the enhanced notification threshold for authorised deposit taking institutions (ADIs) from exceeding $20 billion to exceeding $30 billion.

Banks with assets worth more than this have more reporting obligations under the FAR.

The amending Rules align the enhanced notification threshold with the definition of Significant Financial Institution in Prudential Standard CPS 001 Defined Terms to reduce notification obligations, and therefore administrative burden, for smaller ADIs, while preserving the regime’s core accountability objectives. Changes to the definition of a Significant Financial Institution took effect from 1 July 2026.

The amending Rules commence on 1 July 2027.

An accountable entity meets the threshold at a particular time during a financial year of the entity if the entity’s total assets value, as reported in the entity’s relevant final report, exceeds $30 billion.

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Author: David Jacobson
Principal, Bright Corporate Law
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The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.