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On June 26, 2026, the Australian Competition and Consumer Commission (ACCC) granted interim authorisation to Australia and New Zealand Banking Group Limited (ANZ), Commonwealth Bank of Australia (CBA), National Australia Bank Limited and National Australia Investment Capital Pty Ltd (together, NAB), and Westpac Banking Corporation (Westpac) to commence preparatory steps toward establishing a joint venture for commercial cash distribution in Australia. The applicants seek authorisation to establish a single joint cash pool and bailment structure through an incorporated operating entity (JVCo) to supply commercial cash in Australia. Each applicant will acquire a 25 percent shareholding in JVCo and a 25 percent interest in the joint cash pool. The ACCC's interim authorisation permits the four major Australian banks to take certain preparatory steps while the full authorisation application is assessed. This interim authorisation is distinct from a separate notification of acquisition filed with the ACCC, which relates to each applicant's equity stake in the proposed joint venture. The interim authorisation commenced immediately and may be reviewed at any time. The ACCC has clarified that interim authorisation should not be interpreted as indicative of whether final authorisation will be granted. The applicants and interested parties should monitor the ACCC's public register and acquisitions register for further developments. The ACCC will continue to assess the full authorisation application, which will determine whether the proposed joint venture structure meets competition law requirements. Stakeholders seeking additional information can access the interim authorisation decision and related documentation on the ACCC's registers.