Treasurer Wayne Swan has plans to offer help to building societies and credit unions to help build a "fifth pillar" in Australia's banking industry.
Fairfax newspapers report Mr Swan hopes to challenge the big four banks by re-opening a limited version of the government guarantee scheme for building societies and credit unions to put competitive pressure on the big four.
The aim is to make it easier for small lenders to source money on the wholesale market and increase their home lending market share.
The plan could also include more money for the securitisation market, where small lenders often access funds, and expanding the use of Australia Post branches for credit union deposits and
withdrawals.
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