On 28 May the Government announced that it will establish a new body to boost the advancement of financial capability across Australia.

The Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer, stated that the body will administer grants and improve capabilities amongst Australians of financial products and services, and that the body will manage and distribute community benefit payments that form part of the settlement between ASIC, ANZ and NAB relating to the manipulation of the Bank Bill Swap Rate.