Our monitoring program

The CCMC’s monitoring program supports banks to comply with the Code of Banking Practice to promote good service standards and create a better banking experience for customers.

Annual Compliance Statement program

Each year, we run an Annual Compliance Statement (ACS) program, which includes a questionnaire to be completed by banks on their code compliance performance.

We develop this questionnaire in collaboration with the banks to help them effectively self assess their compliance with the Code. We then review their responses before conducting onsite visits to the banks’ premises, which allow us to:

  • Have in-depth, face-to-face discussions with banks about Code compliance monitoring within their organisation.
  • Verify information received during the year as a result of our other activities.
  • Provide specific feedback for improvement to banks deemed to be at risk of non-compliance.
  • Discuss complaint and breach systems, complaints handling, Code breach identification and reporting, staff training and promotion of the Code.
  • Make recommendations to individual banks.

Our monitoring program gives banks the opportunity to:

  • Self-report on areas of good practice as well as non-compliance.
  • Highlight areas for priority attention or follow-up.
  • Identify any significant breaches and systemic failures in meeting their Code obligations.

Inquiry reports

From time to time we carry out targeted reviews of banks’ compliance with the Code of Banking Practice through our Own Motion Inquiries. The purpose of these inquiries is to:

  • Share our experience.
  • Encourage and influence good industry practice when we’ve identified areas where banks can improve.

We initiate an inquiry when we identify an area of emerging risk in the banking industry. To carry out these inquiries we may:

  • request information from code-subscribing banks
  • conduct ‘compliance visits’ to banks
  • consult consumer advocates about their clients’ experiences, or
  • commission market research such as mystery shopping.

We publish the outcomes of our inquiries and discuss the results with individual banks. When our inquiry discovers that a bank has failed to comply with the Code, we follow up with the bank to assess what actions they have taken to remedy the situation. Any potentially significant or serious breach of the Code may become the subject of later investigations or monitoring activity.


Find out more

Read our Guidance Notes, which will help you understand our processes and procedures and how they are applied in our monitoring and investigations work.

Read our inquiry reports