The Australian Competition and Consumer Commission (ACCC) proposed authorizing the Australian Banking Association (ABA) and other industry participants to develop ways to ensure the continued distribution of cash across Australia under a draft determination on Friday.

Commonwealth Bank of Australia (ASX:CBA), Westpac Banking (ASX:WBC, NZE:WBC), National Australia Bank (ASX:NAB), and ANZ Group Holdings (ASX:ANZ, NZE:ANZ) are among the members of ABA.

The competition regulator also proposed allowing the parties to take certain steps to ensure the continuation of cash-in-transit services if Armaguard's services, the main national cash distributor, were suspended or disrupted. Interim authorization for this conduct has been in place with conditions since October 2024, it noted.

The proposal includes three conditions, including requiring the association to develop initiatives to protect access to cash in remote areas.

The ACCC is seeking feedback on its draft determination by Nov. 14.

National Australia Bank's shares, ANZ Group's Australian and Kiwi shares, and Westpac's New Zealand shares were each down around 1% in recent Friday trade.