The Australian Bankers' Association supports the expanded powers and increased resources for ASIC announced by the government.

Parliament.

The ABA is also in favour of the introduction of a new industry funding model for the corporate watchdog.

Addressing concerns that the additional cost to the banks will be passed on to consumers, Treasurer Scott Morrison said the levies must be, and should be, easily digestible by the levies must be and should be easily digestible by the banks.

ABA Chief Executive Steven Munchenberg told Sky News Business the industry has heard the Treasurer's comments very clearly.

very clearly.

Mr Münchenberg said banks will need to make their own decisions, but he doesn't think the amounts involved will make

 a material difference when spread across the banks lending books.

http://www.skynews.com.au/business/business/national/2016/04/20/banking-industry-supports-asic-reform.html#sthash.WDwx7oST.iFf0lUU8.dpuf