Sydney, 10 May 2017
Macquarie Group Limited (ASX: MQG; ADR: MQBKY) today notes the Government's proposed introduction of a bank levy to be applied from 1 July 2017 to major Authorised Deposit-taking Institutions (ADIs), with assessed liabilities exceeding $A100 billion.
Based on the information available in the Budget, we understand the proposed levy of 0.06% per annum will apply to relevant ADIs' liabilities, less Additional Tier 1 Capital (AT1) and deposits protected by the Financial Claims Scheme.
At this stage, the impact on Macquarie is unclear. It is uncertain whether the proposed levy will apply to Macquarie Bank Limited's statutory liabilities, funded balance sheet or whether liabilities relating to foreign businesses or subsidiaries will be also be included.
Contacts
Karen Khadi
Macquarie Group Investor Relations
+61 2 8232 3548
James Freeman
Macquarie Group Investor Relations
+61 2 8232 0596
Lisa Jamieson
Macquarie Group Media Relations
+61 2 8232 6016
Navleen Prasad
Macquarie Group Media Relations
+61 2 8232 6472
Macquarie Group Limited published this content on 10 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 10 May 2017 08:01:19 UTC.
Original documenthttp://www.macquarie.com/uk/about/newsroom/2017/Macquarie-notes-governments-proposed-bank-levy-from-the-2017-budget
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