July 11 (Reuters) - Australian Competition & Consumer Commission:
* ANNOUNCES INTERIM APPROVAL TO BANKING CODE CHANGES FOLLOWING ROYAL COMMISSION
* AUTHORISATION ALLOWS MEMBER BANKS TO AGREE NOT TO CHARGE DEFAULT INTEREST ON LOANS SECURED BY AGRICULTURAL LAND IN DROUGHT DECLARED AREAS
* INTERIM AUTHORISATION ALLOWS MEMBER BANKS AGREE NOT TO CHARGE DISHONOUR FEES/OVERDRAWN FEES/ALLOW INFORMAL OVERDRAFTS ON BASIC BANK ACCOUNTS
* AUSTRALIAN BANKING ASSOCIATION INTENDS TO AMEND BANKING CODE TO DEFINE MINIMUM FEATURES OF A BASIC BANK ACCOUNT
* EXPECTS TO ISSUE A DRAFT DETERMINATION ON ABA'S AUTHORISATION APPLICATION IN SEPTEMBER 2019