Authorised Deposit-Taking Institution

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Authorised Deposit-Taking Institutions (ADIs) is an Australian government term for a corporation which is authorised under the Banking Act 1959 to take deposits from customers.

ADIs include banks, building societies and credit unions. All ADIs are subject to the same prudential standards but for a corporation to use word 'bank', 'building society' and 'credit union' in its name must meet certain criteria.

The concept of an ADI replaced that of "bank" following the recommendations of the Wallis Report in March 1997.[1]

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References[edit]

  1. ^ Alan L Tyree (2000). "The Australian Payments System". Banking and Finance Law Review (39). 

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